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XOM trade ideas

How To Be ContrarianMy goal is to try to make traders and investor THINK DIFFERENTLY about markets. I believe as humans we seek validation, comfort in affirming our beliefs, and that manifests in the wild swings of the market when the narrative is proven wrong. Back in January 2021 I made an uncomfortable bet on Exxon NYSE:XOM . It was uncomfortable at the time because the narrative was that "dirty energy" was dead, oil was going down to $12/barrel, and EV was the future. These may very well all be true... but it was early. And in investing; being early and being wrong are often indistinguishable. At the time, Exxon was trading below book value (market cap < assets-liabilities on balance sheet), it offered a 7% dividend yield which they did not cut, and had just hit a double bottom. It was NOT obvious at the time... only in hindsight. But these are the types of contrarian trades that investors MUST look at to achieve outsized gains.
NYSE:XOM
by norok
6
XOM - Re-Testing the L-MLHXOM is super strong. I use my favorite tool, the pitchfork, to apply projections of price, filtering, find entries, exits etc. What many pitchfork traders don't understand is, that they can't just apply this tool to the chart. I see many doing it wrong anyways, which has to do with identifying the correct pivot/swing/pendulum swing points, and not being aware of the rules. However, using the rules is equally important. Because the rules define the framing around this tool. Otherwise it's worth nothing, or even harmful to the trader. One of the rules says, that if price is trading outside the pitchfork, it often is going to test/re-test the line where it fell/zoomed out of. In this case it's the L-MLH, the Lower-Medianline-Parallel. As we see, the first test was just a couple days ago. Now, it looks like XOM is re-testing the L-MLH again. What happens after the re-test? a) price is either strong enough to trade back into the projected pitchfork again, recapturing the previous slope/path of price. or b) price will trade to the next WL (Warning Line), going south or eating up time by trading sideways. As a firm believer in the rules of the pitchfork, I'm long this stock, playing for a re-test at the L-MLH.
NYSE:XOMLong
by Tr8dingN3rd
XOM: Cash Me OussideXOM Weekly Bullish RJ could be a bag and a half. This can be played to the upside or to the downside. If we are playing to the downside we could be making an outside bar by the end of the month to 73.49. **Weekly Bullish RJ Trigger**: 83.45 with targets to 84.92, 86.88, 91.51 Upside catalysts : Daily 2-2 reversal at the Monthly Retest Area; Gap fill to 80.44; Two Down Retest Area at 81.60. I'll keep an eye on for a continuation through the 2D retest area and through the Bullish RJ entry. Downside : Look for a strat reversal pattern after the gap fill or at the 2 down retest area at 81.60. There has been a lot of selling taking place since March and we could be forming one last bear flag (gap fill or at the 2D retest areas) then sell off to make an outside bar for the month. I have been seeing higher than normal volume of selling when compared to the buying volume which could be a catalyst for more downside. I won't believe things until a strat pattern confirms on the weekly or higher timeframe. No trigger, no trade! If we start to see a continued run on tech stocks I could see continued profit taking on this ticker with the cash moving into tech stocks to catch the rally. If tech stocks start to sell off, I could see money moving back into this ticker.
NYSE:XOMShort
by GammaRayGoated
Exxon Mobil Pulls Back from 5-Year HighExxon Mobil has pulled back following a big surge earlier this year. XOM shot above $90 last week for the first time since early 2017. It then retraced almost all the move and is now trying to hold its 50-day simple moving average (SMA). Its current price level is also near a high from June and July 2019. Can it turn old resistance into new support? Third, stochastics are nearing an oversold condition. Finally, the recent pullback may be viewed as a completed ABC correction. Given the sharpness of its recent drop, some traders may want to see XOM stabilize further. Still, energy is the leading sector in 2022 amid rising demand and the Ukraine crisis. This week alone, the International Energy Agency (a global organization) warned of more shortages. The Energy Information Agency (part of the U.S. government) separately predicted crude oil will remain above $100 for the next several months. Covid in China is a risk, but trend followers may look for the current trajectory to continue. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradingView is not affiliated with TradeStation Securities Inc. or its affiliates. TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:XOM
by TradeStation
Shorting Exxon. XOMGoals 73, 72, 70. Invalidation at 88. We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe
NYSE:XOMShort
by Rykin_Capital
Exxon mobile cool off.Exxon shares are trading lower Wednesday as oil prices pull back following recent strength. Oil stocks have been gaining in recent weeks as a result of the Russia-Ukraine conflict and a resulting U.S. ban on Russian oil imports. Exxon Mobil was down 5.88% at $82.62 ahead of the close. The stock broke above the $63 resistance and has been flying since the break above. The stock looks to have found some support near the $75 level; this area may become support again in the future and could become a long-term area if it can hold as support multiple times. The stock trades above both the 50-day moving average and the 200-day moving average. This indicates the sentiment is turning bullish, and each of these moving averages may hold as an area of support in the future. The Relative Strength Index has been pushing higher and now sits at 71. The RSI is in the overbought region and is showing the stock is seeing much more buying pressure than selling pressure. If the RSI can stay in this area, the stock may continue to push higher. Exxon Mobil is seeing a strong period of bullish momentum as oil prices have pushed higher. This strong bullish push is likely going to see a period of consolidation for a time before the price pops again. Bullish traders want to see the stock fall back to support before possibly entering. Bearish traders are looking for a break below the support to see a possible move down toward the next area of support near $63.
NYSE:XOM
by AxiomEx
Is DCA method fool proof ?I am frustrated when I read comments on social media when Financial Agents are saying to do Dollar Cost Averaging to their clients and not to time the market. I picked this stock, XOM which was Warren Buffett's favourite stock once upon a time. Had you done your DCA method from Jul 2002 to Jul 2014, a period of 12 years, you would have made a tidy profits of 243% (average of 20% per year which beats S&P500) On the contrary, had you been advised by a FA or listened to the crowd without doing any due diligence, your portfolio is definitely going belly under. Coincidentally, you are buying at the peak of XOM and buying more when it begins to slide further. Your loss would be around 71% if you continue to hold to current period. So you see, my friend, do take others advice with a pinch of salt. As I have said umpteen times, nobody should manage your money better than you. You and only you are responsible for your money. Over the last 6 years, not only had you lost your capital, incur a huge loss but more importantly, had lost a great opportunity to compound your capital for a higher returns. To compensate this loss, you will need to do the following 1. cut partial loss, transfer part of capital to better deployment 2. wait for XOM to recover to your purchase price, stop all DCA 3. increase your capital deployment to other assets to make up for the loss By learning to draw simple trend line (blue dotted line), one can see there were several failed breakdown (mark in orange) before it eventually break down in 2018. If you have not learn to short sell, by looking at the chart, you would know to avoid buying this stock and move on to better opportunities. Such is the simplicity and power of using trend lines.
NYSE:XOM
by dchua1969