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XOM

Double top form of ExxonMobil's stock has been completedDouble top form of ExxonMobil's stock has been completed This chart shows the weekly candle chart of ExxonMobil's stocks over the past 4 years. The graph overlays the bottom to top golden section at the beginning of 2020. As shown in the figure, the small-scale double top form of ExxonMobil's stock has been completed. Now, there is a long short competition at the bottom of the figure against the 3.000 and 3.272 positions in the golden section, and it is likely to break down in the future! For a period of time to come, just use the long start level of ExxonMobil's stock in late March this year at $99.63 as the long short divide!
NYSE:XOM
by Think_More
UCO a crude oil ETF LONGUCO popped in April and then dropped into a consolidation in May and June where it set up a base shown by the POC line on the volume profile. Once over the POC on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210 combination the bull trend began. The dual time frame RS lines in the 60s suggest more to come. I am trading UCO and similar oil-based instruments including USOUSD or forex in the near term until I see signals of a topping that are not yet evident.
AMEX:UCOLong
by AwesomeAvani
3
XOM Exxon - Spring Coiled Or Hanging By A Thread?Every time the price of oil goes up, there's a group of bulls that are sure they're catching the train to $150. I mean, I do think oil will go to $150, and there has to be a bottom that comes first, so there's that. But with fossil fuels and energy producers it seems the pumps are rare, the consolidations are frequent, and the dumps are more common. In two recent calls, I suggest that oil may actually be on its way to a 3-handle Oil - A New Long Leg Down Soon Begins This particular thesis is at something of its inflection point. All the way to $85 would not be surprising, nor would it invalidate the short trade. But here we chop in the $80s. For Natgas, in a recent call, I suggest that price needs to raid $1.6~ before the rocket mission to $10 can commence NatGas - No Moon Until Doom Natty has rallied fairly meaningfully in the last few days, and it may even actually finally punch out $3. But if it can't continue from there, the idea may still be correct. A big tell that something isn't right in the bull thesis for Exxon is that after the highs were swept in April at $119~, everyone long over $111 has remained trapped ever since, with price not following oil's recent $20 rally. Now for Exxon, something that's really notable is that the CEO recently bought himself some 650,000 shares for $69 million. This makes many people believe that new highs simply have to be coming. When we look at monthly candles, we can see we're "flagging" above the old All Time High, there's no indication that it's a reversal, and yet, for three months, there is no reversal. On the weekly, last week's price action gave the appearance that it's finally time, but it may have just been a stop sweep over the range high. It's notable oil is pumping, but Exxon is not, despite its stellar earnings report. An important thing to note about Exxon is next dividends ex-date is August 15 and the payout is 91 cents a share. The CEO will pick up some $591,000+ in cold cash mitigating his position. It's also worth noting that when it comes to insider buys, they aren't necessarily indicative that price is going to go up before it goes down. The man may have understood he could make more than the 5% he can earn in the money market by buying Exxon and loaning the shares out to short sellers, combined with dividend payments, over the next year, for example. The most rational place for Exxon to correct to, if it were to correct, is the $68 level. There are a lot of geopolitical risks right now with China, the Chinese Communist Party, Xi Jinping, and the CCP and the Jiang Zemin faction's 24-year persecution and organ harvesting genocide against Falun Gong. This is really the biggest piece of the puzzle that you need to educate yourself with, but establishment media doesn't talk about it. All of this directly impacts the oil market. And the War in Ukraine impacts the oil market, because if the War is called off then Russian oil is going to flow worldwide again and amount to a big time supply increase. Things can change any time.
NYSE:XOM
by LordWrymouth
XOM Exxon Mobil Options Ahead of EarningsIf you haven`t bought XOM here: Or when they made more money than God: Then analyzing the options chain and the chart patterns of XOM Exxon Mobil prior to the earnings report this week, I would consider purchasing the 105usd strike price Calls with an expiration date of 2023-8-18, for a premium of approximately $2.16. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:XOMLong
by TopgOptions
COP- Divergences suggest bearish reversal.COP has had a brief trend up in the past three and a half trading days of about 8%. An analysis of the 30 minute chart suggests this could reverse. Firstly, the HA candles are now narrow- ranged and more or less Dojis. The MTF RSI indicator of Chris Moody shows dropping RSI on the 5 minute TF while it is hold up at 100 on the 60 minute TF. The former is indicative of bearish divergence. In a similar fashion the zero lag MACD shows an early cross-over of the K and D lines over the positive histogram another bearish divergence and sign of impending reversal of momentum. Based on all of this I will take two put option on COP striking $110 one expiring 7/14 and the other 7/21 targeting stock prices of $105 then $102. I am projecting profits of 25% on the shorter trade and 75% on the longer trade. I will find the entry on the 5 minute chart looking for a pivot high coupled with a transitioning EMA200 from a positive slope to zero or negative. Other traders may simply short COP and hold to the lower target.
NYSE:COPShort
by AwesomeAvani
Crude Oil - Bearish On Oil? Saudis Made The US Cover Its Short.I've had a number of successful calls on crude oil, which you can find in my post history. In those calls, I had always been bearish on oil, anticipating a run to a 4-handle. However, I reassessed my prior assumptions when the MMs took out the Low Of The Year in quick order to start May. I haven't been particularly sure in the time that has passed, but between price action and some recent news, I now believe oil is set to reverse. The situation in mainland China with Xi Jinping and the Chinese Communist Party is very tense. The pandemic has taken a huge toll on the country, which the Party is not reporting to the world, and you can tell this if you look at their obviously bogus COVID death and infection stats published on major data aggregators. This matters because since Putin invaded Ukraine last year, there's become something of an alliance between the Saudis, Russia, China, and India, with many oil transactions no longer settling in the U.S. Petrodollar. So you have to be really careful trading right now with the geopolitical situation at hand. Everyone has flipped bullish on equities and is expecting a new parabolic run, but the situation is just as prime for a sharp and dramatic turnaround, which I reference in my recent call on the SPY ETF: SPY - It's Life or Death For Bears When it comes to China, Xi has the looming threat of having inherited Jiang Zemin and the CCP's persecution of Falun Gong, which targeted 100 million people and has even harvested their organs. Xi and the CCP also face the growing trend of the movement to return to China's traditional 5,000 year culture, which is the crown jewel, the magnum opus, of the whole world and all of human history. So the most important country in the world is very unstable, and you aren't hearing anything about what is going on. But the controllers know something is wrong and are scurrying about frantically, thinking about how they can take your stuff on the way down. So, my bearishness on oil has been based on the fact that the Biden Administration has drained the Strategic Petroleum Reserve, significant because although OPEC+ is a huge producer of oil, the US and its vassals, such as Canada, by far produce the most oil in the world. Washington selling the SPR is a short on the market by definition and they unloaded hard in the 90s and 80s, saying they wanted to buy back in the 60s. Yet the two times we've had oil in the 60s, they haven't rebought. I believe they intended to drive the market lower for longer and rebuy then. A few recent pieces of news came out. One is OPEC had a scheduled meeting in Vienna in early June, which they held in person, despite the next major meeting being in July. During that meeting, Reuters, WSJ, and Bloomberg found themselves disinvited, while every other media did not. Moreover, on Friday The Washington Post stated that Saudi King MBS warned the Biden Administration it would inflict economic pain when the US complained about production cuts. The Saudis have teeth because they own Aramco, which is also stationed in the United States, and the Saudis buy arms from the military industrial complex. NATO and the US needs to have the Saudis not wanting to get rid of them if they are to have any chance of deposing Putin and taking Russia for the New World Order. It's been well known that OPEC+, of which the Saudis are the biggest producer by far, want higher prices and need $80-100 to continue to run a national surplus. The second biggest news is a June 9 announcement from the Department of Energy stating the US will replenish 6 million barrels of oil from the SPR. This means Washington is covering its shorts. Now, you'll complain, fairly so, that the Democratic Socialists of America have sold some 280 million barrels of oil from the SPR since Biden was inaugurated in 2021, and you're right. 6 million barrels is certainly a drop compared to what they've sold. However, a look at the EIA website puts the 6 million barrel figure into perspective: since November of '22, only 20 million barrels have been drained. I will repeat myself again: the market maker is covering its shorts and that means it's very immediately dangerous to be short on oil and oil companies. So, this is hard to go long on because the delta between $70 and the $63 low is 10%, and on futures at $1,000 PnL per $1 move per lot, that's a lot of "Ouching" as Abdulaziz has said for early comers. However, generally speaking a bottom is a bottom and that means there won't be a new low. Either way, it's up to you to figure out where to go long and when to go long and if you want to go long. The most immediate target, even in an ultimately bearish continuation scenario, is $85, and more specifically, $95. And you may very well see a 9 handle as early as August or September. The problem with short on oil is on the monthly: COVID hysteria was an ultimate bottom. If -$40 wasn't an ultimate bottom then you call your mom and ask her what an ultimate bottom could be and let us know in the comments. If you've got an ultimate bottom and no real highs were taken, the the market is aiming higher, and not lower. A breakdown of price here means that oil as an industry is not going to recover, but yet green energy is a fallacy and alternative energy sources are nowhere to be found, while worldwide crude supply is actually not particularly abundant anymore. So what fundamental story is supposed to be used to drive oil lower? A bunch of talking heads on Twitter complaining that oil is going lower? That doesn't move markets. Producers have to deposit actual oil to go bigly short because contracts settle in physical goods. Moreover, the price action in March before the big move down in May was really, really peculiar. You see it more clearly on the weekly: Like, $2 away from a breakaway gap is where it chose to dump and actually set a new low of the year? Really, to me, this says that since we haven't dumped anymore and now we're getting fundamentally extremely, extremely bullish news, that the target can only be $95. People, for whatever reason, tend to like to buy above highs and so they'll get bullish at $85 and $95. But why not get bullish at $70? Warren Buffet keeps buying OXY. Is he doing this because oil is on the verge of another 5 year bear market? If oil is going to pump, what does this mean for equities? What does it mean for the VIX? With what's going on in the world, what does it mean for the future? How long will the happy continue? It's really worth giving some sober thought to, and it's really worth cutting the furus and the propaganda outlets out of your information cycle.
NYMEX:CL1!Long
by LordWrymouth
10
S&P 500 Favors Breakout. Bears and Recessionists = MisanthropesThe bears enjoyed their cycle to the maximum, peak fear is behind us. Observe your favorite pundits to determine if they have shifted their perception yet. Many have not, Many remain Bearish and are greedily awaiting one more Deep Indiscriminate Sell Off.... they will likely wait forever. The first rule of any technology used in a business is that automation applied to an efficient operation will magnify the efficiency. The second is that automation applied to an inefficient operation will magnify the inefficiency. Long SPX = Long Human Innovation and Business Ingenuity!
CBOE:SPXLong
by noam_chom
1
USOUSD rises on reversal USOUSD today on the 15-minute chart dropped on a downtrend outside the Bollinger (lower) Band (49, ohlc,2) hit a Doji candle and then started the upward retracement. The RSI indicator shows relative strength hitting a bottom and bouncing up. RSI is about to go over 50. Price is currently below the high volume area with the POC line aligned with the basis center line of the Bollinger Bands. The ECHO indicator, a predictive algo tool is for a 2.5 % upward trend over the next 2-3 days. I see this as a good entry point for a long leveraged forex trade.
EIGHTCAP:USOUSDLong
by AwesomeAvani
ERX Energy is backERX is a leveraged ETF tracking the energy sector. On the 4H chart it has been in a downtrend since mid-March. IT dropped to the bottom of the high volume area on the long term profile as well as the lowermost VWAP band. Firday May 12th marked the reversal with buying volume replacing selling volume and then a significant rise in price in the past week. On the AI moving moving average indicator, the optimized shorter Hull moving average (red line) has crossed over the longer EMA moving average ( blue line) as has the price. I conclude the energy sector is heating up. My new idea on BOIL supports this. I will take trades with energy in mind and review big oil stocks and natural gas stocks as well as pipeline and oilfield services stocks.
NYSE:BOHLong
by AwesomeAvani
Elliott Wave Impulse Decline in XOM Suggests Further DownsideShort term Elliott Wave view in Exxon Mobil (ticker: NYSE:XOM ) suggests that the decline from 4.28.2023 high took the form of a 5 waves impulse. Down from 4.28.2023 high, wave (1) ended at 115.64 and rally in wave (2) ended at 117.30. The stock resumes lower again afterwards. Down from wave (2), wave 1 ended at 114.45 and rally in wave 2 ended at 115.22. Stock resumes lower again in wave 3 towards 109.29 and wave 4 rally ended at 111.39. Final leg wave 5 ended at 108.15 which ended wave (3). Stock then rallies higher in wave (4) towards 109.81 and then extends lower in wave (5) towards 105.5. This completed wave ((A)) in higher degree. Wave ((B)) is currently in progress to correct cycle from 4.28.2023 high. Internal subdivision of wave ((B)) is unfolding as a double three Elliott Wave structure. Up from wave ((A)), wave A ended at 109 and dips in wave B ended at 105.80. Wave C higher ended at 110.97 which completed wave (W). Pullback in wave (X) ended at 108.1 and the stock has resumed higher again. Potential target higher for wave (Y) is 100% – 161.8% Fibonacci extension of wave (W) which comes at 113.5 – 116.8. Near term, as far as pivot at 119.9 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
NYSE:XOM
by Elliottwave-Forecast
$XOM: Uptrend signal in the daily and weeklyExxon🛢️ has nice upside here according to Time@Mode which makes me think it could beat expectations and shoot up and trend steadily for some time. The company reports earnings this Friday, and is expected to post a $2.606 profit per share, and $85.648 billion dollars of revenue. Valuation highlights: Price to Book ratio of 2.46 Price to Free cash flow ratio of 10.80 EPS growth of 32.60% for the past 5 years LT Debt to Equity of 0.21 P/E ratio of 8.74 Price to sales ratio of 1.18 times sales Both weekly and daily trends are bullish and suggest price can hit the following targets by the following dates (or sooner): 🎯123.70 to 132.17 by May 11th 2023 🎯134.52 to 164.04 by July 21st 2023 Best of luck! Cheers, Ivan Labrie.
NYSE:XOMLong
by IvanLabrie