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XOM trade ideas

head and shoulders bottomTrading an Inverse Head and Shoulders Conservatively An investor can wait for the price to close above the neckline; this is effectively waiting for confirmation that the breakout is valid. Using this strategy, an investor can enter on the first close above the neckline. Alternatively, a limit order can be placed at or just below the broken neckline, attempting to get an execution on a retrace in price. Waiting for a retrace is likely to result in less slippage; however, there is the possibility of missing the trade if a pullback does not occur.
NYSE:XOMLong
by WolfOfSanSalvador
2
Exxon LT (February 2nd 2021)Exxon Mobil (XOM) (February 2nd 2021 through 2022) Low: $32 High: $45 2020 Q4 announcements are in a few hours. My assessment is as follows: I believe the guidance could be reported as negative above all else. I think EPS has a very slim chance to barely exceed analyst expectations of 1 cent, maybe 2 to 5 cents at the max, but I'm watching for it to end up being a really close call at around -2 or -3 cents too. My original thought for my Cindicator forecast last night was that trading for the day could close positive but I think there's an even slimmer chance of that now that I've taken some more time to assess. I think the current patterns could turn into a longer running contracting triangle, and it looks most like it will result in heavy bearish swings lower if it does finally break out in 2022, maybe as low as $23 to get started. I'd say its well known that oil is a dying industry and I believe it will reflect in the charts more and more as time goes on. Thanks for tuning in :) Disclaimer, anyone in the trade needs to do their own due diligence and decide what is right for YOU. My charts can be wrong at any time and it's very important that you have your own strategies and plans in place. I run this channel for my own educational purposes of learning to trade, and I will never be 100% right, so please do not let me confirm any bias for you! (Dangerous to do so, stay safe and remember the basics & rules of risk assessment.) Expect the unexpected and happy trading!
NYSE:XOMShort
by Hambooger
9