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XOM

Potential longer term bullish scenario Three bullish signals were provided last week by $XOM price action: 1. Stock was strong despite bearish market sentiment. 2. The price re-tested broken channel and confirmed breakout by bouncing from channel's top. 3. The price closed above the 200 SMA line If indeed the markets will turn positive, as $SPY chart suggests, $XOM may be headed for 20$ run towards 100$ and the completion of a bearish Bat pattern. Though there are plenty of target levels from 80$ to 100$ that can be used for profit taking, with a decent stop loss below the 75$, you may be able to ride this one all the way up to Bat completion. Tomer, The MarketZone This analysis is part of the Weekly Markets Analysis newsletters To read more interesting technical reviews for the week goo.gl To subscribe to the newsletters - goo.gl Follow my blog - goo.gl Subscribe to my Youtube channel - goo.gl
NYSE:XOMLong
by themarketzone
2
HIGH VOL: KEEP WATCHING!!!Look guys, this is the same Fib retracement that has HELD since the Jan-Feb selloff. Do not take my word for it. Look at my previous predictions, load the new data, and see how much money was made. MPC has had a history of bucking the market. When SPX was down 2%, this was down 7%. When SPX was up 3%, this was up over 8.5%. This is a lower liquidity, higher volatility play. I am NEUTRAL on MPC. To be honest, I've put no money into for a long time. Money could have been made straddling the 2nd fib level, but the reaction to Brexit (not the market reaction to Brexit itself) has caused everybody to look at everything closer, and rightly so.) Here's what we know: MPC is range-bound in the 2nd fib level. We also know it's good for a 8% pop or drop in a one session. Is that within your risk tolerance?? It's not within mine. Conclusion: IF YOU DO NOT HAVE TO TRADE, DO NOT TRADE. I honestly would not look at this stock until after earnings (July 28th). That will give the market plenty of time to digest new capital inflows from stock buy-backs, and allow for a reaction that may be based on technicals vs. fundamentals. There is money to be made, but patience is a virtue. If you see something I don't?....Please share! I need to eat too...
NYSE:MPC
by nodiggity
1
Pairing CVX and XOMCVX reached a major Monthly Resistance in the past week and today saw major volume in sold shares and bought Puts which drew my attention. CVX Option volatility is still above average so the best play would be buying Vertical Put Spreads. Buying the September 16 95/92.5 Spread for $0.58 yields a greater than 3:1 Reward/Risk if it reaches max profit. I'm aiming for a 8.5% bearish move with earnings one month away to act as a catalyst which is reasonable. The best company to hedge the short trade with in terms of industry and market cap is XOM. For the hedge to match the risk and movement I went with the October 16 95/97.5 Call Spread for $0.60. I'm aiming for a 8.5% bullish move and this stock also has earnings on the same date a month away. Expectancy on this trade is 54% with 2.4:1 Reward/Risk.
NYSE:XOM
by norok