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SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF

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XOP trade ideas

$XOP Smells like distributionXOP to me needs to cool off after this monster up leg. Starting to smell like distribution with lower highs. A monster breakout is possible, but even being bullish I'd like a dip to $120 zone before the next up leg. Daily - seeing some bearish divergence on the RSI Weekly - top of channel rejection (so far) with Bearish MACD cross and momo turning down Monthly - we're at the 2015 resistance line and an RSI approaching over bought territory 4HR - bearish divergence in MOMO and lower highs with MA turning down I'm just not a buyer here, started a short position will add upon further confirmation JUN 130P Cheers !
AMEX:XOPShort
by FriscoTrades
Breakout portfolio for a breaking down world.The world order established after WWII is changing before our eyes. Indexes have broken their uptrends. Nasdaq stocks have been crushed. Old commodities are becoming more important to nations than ever before. Security isn't guaranteed. As investors our goals remain unchanged. Give ourselves and our families the best chance to succeed through financial independence. Considering the changes in the world, I present to you five ETF's that when equally weighted as a single fund are breaking out to new all time highs. $BUG - Cyber Security. $XAR - Aerospace and Defense. $XOP - Oil and Gas Explorers. $XME - Metals and Mining. $COPX - Copper Producers. There's very little overlap between these funds. I prefer XAR to ITA due to the high Boeing exposure of ITA. The beta is high so expect moves greater then the indexes in either direction. When equally weighted there's a small yield of about 1%. With ETF's you take the underperformers along with the outperformers. However, you don't have to worry to much about single stock risk. Stock pickers may prefer to dive into these funds and select the strongest stocks from the group. I'm posting from my phone. Please excuse any errors. Good luck to all.
AMEX:XOPLong
by Breakout_Charts
3
$XOPCup waiting to form handle. With that said I would look for upside to this gas & oil etf until April/May then we should see a dip into the handle into the summer. So in my opinion gas & oil prices rise until the summer and drop until August if this pattern holds true. CHART LEGEND: white dashed lines = bull/bear takeovers blue lines = call targets yellow lines = put targets red line = danger zone orange lines = trend lines green lines = safe zone any other lines add will be discussed with the ticker AMEX:XOP
AMEX:XOPLong
by Riskitpaid
XOP Energy Exploration + Production Outperformance to ContinueXOP is the ETF for the energy sector's oil and gas exploration and production sector. Despite the market indices (US) experiencing a high degree of volatility and technical damage, the energy sector has outperformed all other sectors in in 2022 (and late last year). A cup with handle has formed, which is a bullish consolidation pattern made famous by legendary investor William O'Neil. Investors attempt to identify such patterns as signals that a higher move may be possible so long as a breakout past the pivot (the high of the handle on the cup) occurs and does not fail subsequently. Other experts call it a volatility contraction pattern (VCP)โ€”because when volatility contracts, it tends to then be followed by an increase in volatility, usually in the direction of the trend. The only caveat is that markets can sometimes derail breakouts from VCPs (cups with handles or other consolidation patterns). Note how the trend in XOP is quite well defined going back to July 2021. XOP has respected the uptrend line across the lows (see the parallel channel above) And the price has been making higher highs and lower lows consistently since then. And momentum in the short-term is increasing, though I suspect all stocks may be dragged down to some extent by some of the market's downdrafts similar to what occurred in January 2022. Recently, I started a small position using a vertical option spread to trade this to the upside into mid-March. I am keeping the position small until a better entry appears. I would add to the position at the 21-day EMA if it holds as support on any pullbacks. In short, XOP appears to be a strong part of the leading sector in the US right now. While the markets may continue to experience volatile declines, it's worth watching XOP hold its trendline and MAs steady. It may be worth taking a bullish perspective on any pullbacks to the mean (the 21-day EMA, the 34-day EMA, et cetera). Lastly, XOP's relative strength vs the S&P 500 and the Nasdaq is quite impressive. (An easy way to view relative strength is to do a ratio chart, called a "spread chart" by TradingView, by typing in the symbol XOP/SPX or XOP/NDX.) DISCLAIMER: This content is for informational and educational purposes only. This should not be construed as financial advice or an investment recommendation. This content is not a substitute for advice from a licensed financial advisor or investment professional. Please do not trade options, stocks or other securities without understanding risk, position sizing, and the nature of the security product being traded. And please do your own research.
AMEX:XOP
by SquishTrade
$XOP price forecast on weekly chartLooks like the bottom is in. The orange trendline on the left seems to be broken and price went to $100, which is a key support/resistance and was rejected there. I expect the price to climb to $140 which could be the end of wave 5. On it's way up there price needs to break and stay above the 200 MA (Red MA on the chart). Blue lines on the chart are key price levels. Right now price is sitting at the 50% retracement of wave 2-3 and looks like it found support there. MACD on the weekly charts looks it is going to cross soon, which would signals a bullish move to the upside.
AMEX:XOPLong
by MoneyForNothingAndPipsForFree
XOP to **pop** lolI think putting it in within such a 'channel', make sense. (It trades along with this "trend" (line, on top, since 2020), which is has never succeeded to break, yet). Expect it to follow this pattern in future (copy/paste the trend line). Follow the long averages. (The bottom of channel is "bottom" of 2020 crash; and end of the initial "reflation trade" rally). Am not a professional, but you could use the both "trends"(lines) and use them as cycle indicators (overbought/oversold; bellow or above); It's currently "oversold", which, "may", appear on the longterm picture ahead. //Maybe it will sell at the 2019 key level first. //Hope it reaches the target by september or october. lfg
AMEX:XOPLong
by citsvar