Long

$XOM Undercut and Reverse?

Updated

this is a remarkably simple U&R play. I have gone long with the undercut and today’s reversal from the low on December 12, 2023. That low was $97.48. It broke above that this morning. My stop is simple. If it closes below $97.48, I am out because it will tell me it is resuming the downtrend. Should it push higher tomorrow, I will add to my position. All TBD.

Ideas, not investing / trading advice. Comments always welcome. Thanks for looking.

Note

This trade is working well so I have added to bring it up to a 3/4 size. Stop for this add-on is todays low.

Note

This has been on a steady climb for most of the morning. I added again on this pullback on the 5 min chart. I am now up to a full sized position. My stop on both add-ons today are just below today's low.

Note

This is just a thing of beauty! I hope someone took this trade too. It's not a barn burner but It's nice and study.

Trade closed manually

I closed this here this morning as it took a pretty good hit on still declining oil prices. Earnings up in 4 days other wise might have held as I did make 4.97 per share but not enough to hold thru earnings.

jaxdog

Ideas I publish are my own. They are not meant to be investment / trading advice. You are encouraged to do your own due diligence.

I may or may not take any trade published and I am under no obligation to post any action or update to any idea.

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