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SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF

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XOP trade ideas

Bull FlagNo recommendation. Yearly high is 92.24.. I am thinking oil will do well considering this administration is trying their best it seems to make it obsolete which creates demand. We do not all own an EV yet. I am not sure they even know this?? I do have a hybrid, a Prius, but I still have to buy gas. I guess I can start saving up to put an EV charging station in my carport in case my local gas station does not have one for a while if I am forced to buy an EV. But I probably won't buy one unless forced to do so)o: They say you can charge a car (EV) on 110..but since it takes over 24 hours on a 110 outlet to charge my little bitty hot tub, I am a bit curious about how long it would to charge my new EV (if I ever have a totally electric vehicle) on 110? Does anyone know? This does not keep me up at night with worry but I am a little bit curious about the charging issue? Oil is volatile to trade. This I have learned the hard way. I am getting better at recognizing the trends though. Long entry level 80.30.
AMEX:XOPLong
by lauralea
XOP ready to breakoutXOP has been in a bear market since late March. Bottomed out at 72.35 which is a Fib retracement level. It's been consolidating at 75.50 and has just built a bull flag on the 30min. Indicators are turning bullish (MACD, Stoch, RSI) Confirmation would be a break above the purple trendline. Retest from the top and a bounce upward. Resistance will be the 50 SMA on the daily which is $82. On a larger scale, this could be a cup and handle formation. Bear scenario would be if price fails on the retest of the trendline and a continuation of the bear market for XOP.
AMEX:XOPLong
by BrokenTypewriter
XOP fractalOil prices have been on a tear lately, driven by a combination of travel recovery and inflation expectations. Oil and gas stocks have been rising along with them. (Other commodities prices are climbing as well, by the way, which bodes well for value stocks for the foreseeable future.) Oil and gas companies still looks reasonably valued, with roughly 10-15% upside to median valuation of the last 4 years. The space still offers some of the best dividends available, even after a number of companies made dividend cuts last year. However, companies in the space are also still financially pretty weak. Free cash flow has plummeted toward zero even on some of the most secure oil majors. So there's definitely some risk. In technical terms, I noticed that XOP looks to be making a repeating fractal pattern. If the fractal continues, then we ought to see the price rise more or less straight up from the current close of $72 to my target at about $80, before pulling back toward the trend line. Be aware that I've not traded fractals much, so I don't really know how likely this is to play out. Just posting the idea here for future reference.
AMEX:XOPLong
by ChristopherCarrollSmith
Long $XOP Multi-timeframe analysisBullish pennant on the shorter TF for $XOP with confluence at weekly support for the pennant target which shows an amazing R:R for a long opportunity. But, being that this ETF is fundamentally bearish because of current concerns for the new virus strain and the fact that technically this is still bearish on the weekly, Ill be setting first target to top of pennant. Then, move stop to BE and then just wait and see how the pennant pattern plays out. At this time, when stop is at BE this would be a risk free trade.
AMEX:XOPLong
by EllaineEscueta
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