XOM trade ideas
How I trade the candles. $XOM exampleHow I trade the candles. There is more not mentioned in the video but for the most part these are the basic steps I take 1st before diving into look for more confluences to help me decide during a trade.
Exxon Mobil potential downsideThe dividend day is behind us and the people bought for hefty dividend will pull out. A lot hesitation for going higher, at least not before a revisit to 200MA in my opinion.
A little calculated short position seems to worth it!
DO YOUR OWN RISK ANALYSIS!
XOM bullishI am very bullish on XOM nowadays. Based on my finding it is highly possible XOM make multiple bottoms and start to bounce up.
XOM LongDidn't want to post this until it broke above the earnings date AVWAP because, according to Brian Shannon, you don't really have confirmation until you trade above it with some strength.
I'm currently long $110C for 6/16 @ 0.53
Daily annotations showing a lot of bullish signs.
- Bounce off of year-long trendline support
- Big accumulation volume at the EOM candle
- Weak volume on earnings AVWAP/Saudi production cut news rejection
- Higher than avg buying volume after higher low
- RSI divergence playing out, higher highs, higher lows
- Volume delta turning bullish- MACD cross and confirmation
- Break of earnings AVWAP
- Also broke out of a falling wedge pattern today (not shown)
Hourly shows a few itself.
- Series of higher highs and higher lows
- Defense of buyer's average AVWAP
- Defense of 32 EMA and 129 EMA cross.
- Break above and bull flag over horizontal resistance
The first price target is around $110/$111, that would be TP1. Second price target would be the gap just under $114. If you buy more time than me, you could even have a PT of the high @ $119. Depends on the macro environment and what JPow says. I am looking to cover before that event on Wednesday.
I am expecting a pullback in the next two days, just to check either the earnings AVWAP or one of the EMAs. Needs to clear up some overbought conditions on the hourly, and the MACD and is trying to roll a bit. Will see if it's worthy of a dipbuy if that plays out, might roll the strike or expiry idk yet.
Line in the sand is a failure to defend EMAs. If we break back below earnings AVWAP or the 32 EMA on the 1hr, I will probably cover for B/E and try again but buy more time, see where the 129 EMA and buyer's average is for a reentry.
Watching DXY and CL1! closely to see if there is a catalyst either way for a big fundamental move, but right now I am relying on technicals.
Exxon vs Spx. Reverse Image.Am I the only one to see the bullishness of this chart?
#exxon #spx #gold #silver
notes
massive false breakout (capitulation/exhaustion)
below 5 year moving average
move back through + retest
massive false breakdown (capitulation/exhaustion)
exxon vs spxIs this enough evidence for you?
Some paradigm shift events unfolding before the sleep crowd.
Note, energy sector provides some of the highest dividend yields.
Oh, and yes, #gold and #silver go bonkers when #Exxon breaks out versus #Spx.
Exxon Mobil is on an Important Key Level inside the ChannelXOM is currently displaying a significant key level on the weekly timeframe. Anticipating a bounce from this key level, the expectation is for the price to move towards the highs around $120. This would mark the fifth impulse within the established channel.
Xom (Oil)
Looking for Xom to get back most of its spring losses this June.. via inverted H&S.
Targets are 110 or 50sma then a pullback to form right shoulder before 114 gap close
You can see the bullish divergence on your daily RSI (Double bottom)
Price might not pullback at 110, may just keep going..
XOM OUTLOOK 06/05 -06/09After finishing March and April strong and making all time highs at 119.92, NYSE:XOM pulled back in May to a key support level around 102. With $CL_F setting up for a bullish week, and the Saudis plan to cut their OPEC+ oil supply by 1 million barrels per day, we could see gas prices rise and a potential buying opportunity in $XOM.
Technical Analysis:
NYSE:XOM tested a breakdown of the macro channel we’ve been watching, but was able to reclaim the support during Friday’s session. As long as we respect this channel, I can see us continuing higher. We also have a dirty inverted head and shoulders with the daily 102.33 level as the neckline.
Bulls will want to hold above 106.26, reclaim the 200 day moving average and break above the weekly level at 107.90. My lean is bullish, and will look at the 50% short retrace at 110.59 as a potential price target this week.
Bears will want to see price action below 102.33.
Upside Targets: 106.26 → 107.55 → 107.90 → 109.58 → 109.61 Extended: 110.59
Downside Targets: 105.00 → 103.32 → 102.33 → 101.26 → 99.18 Extended: 97.02
Valuation Chart for Exxon Mobil (by The Equty Channel)Average analyst target for Exxon s higher at $127.79. Traders who want to take advantage of this may wait to enter the trade near far value of $83.64. Oil prices hare being negatively impacted by the current economic environment and there could be some near term downside ahead of greater summer demand.
Those looking to invest should know that the longer term outlook for Exxon calls for earnings to experience a -10.74% CAGR over the next 5 years. Pairing that information with my knowledge of the current economic environment it suggests there could be pandemic-like draw down for the energy sector, as the global economy continues to weaken.
Investors should understand that Exxon is anchored to lower prices and wait for better buying opportunities. Tune into the Equity Channel Podcast next week for a discussion of what we may be able to expect in the second half of 2023.
$XOM with a bullish outlook following its earnings #StocksThe PEAD projected a bullish outlook for NYSE:XOM after a positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 25%.
XOM 105 CalI have been watching NYSE:XOM last 2 weeks when it started to pull back from $120.
Price find support at Fibo 0.786 level and also a major SR area (blue area)
R:R is 1:3.
XOM - Double Double BottomsDouble bottoms forming along an up trend line on this 4Hr chart.
I expect the bottom to act the same as the first and be rejected bullishly.
Bars pattern shows this bullishness.
Exxon Mobil Has Bounced Here BeforeExxon Mobil began the month with a pullback, but now it’s holding a spot that’s offered support before.
The first item on today’s chart is the 200-day simple moving average (SMA). XOM bounced at this long-term trend indicator in September and March. Will buyers defend it again?
Second, you have a rising trendline along the same lows.
Next, XOM appears to have completed an A-B-C correction pattern. That could make some traders feel it’s done pulling back.
Finally, stochastics are rebounding from an oversold condition. (The white arrows show other moments when this helped mark turns.)
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XOM, 10d+/22.39%rising cycle 22.39%
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This data is analyzed by robots. Analyze historical trends based on The Adam Theory of Markets (20 moving averages/60 moving averages/120 moving averages/240 moving averages) and estimate the trend in the next 10 days. The white line is the robot's expected price, and the upper and lower horizontal line stop loss and stop profit prices have no financial basis. The results are for reference only.
XOM bouncing off a strong supportRSI oversold + Bouncing off a strong support
Can run till the next strong resistance of 116 117
Entry now can be good and then TP @ 116
Entry @ CMP
SL @ 96
Next move of XOMAs you can see in the chart xom Had started A massive uptrend in the last 3 years that It's over
by my point of view.
as shown in the chart last HH had a little difference with last High which show me a big signal of the end of upward trend.
Sl of this Analyze is the Last high which has been made (119.92)! In the green zone we can risk free our position by your own Strategy.
XOM DailyIt's time. I took a small position yesterday as XOM dipped to the Gann line, which is also a 78% fib retrace. Fresh off a dividend EX. The XLE sector is oversold.
