CUP n HANDLE on $XOM daily TFOn the daily time frame we have a bullish cup n handle. Price is sitting on the 9 EMA, so it isn't over extended, if you look at the RSI you'd see we have a bullish divergence forming, the stochastic moving averages aren't crossed or as erect as id like to see yet, but look to be in position to cross. Price closed a top of the cups handle on the daily down trend, which is also the golden pocket zone if you fib it out, for me this will be my entry zone. Ill be looking for an increase in open interest and volume to confirm trend continuation. Price closed within 5% of its daily high, imo this indicates strong bulls in the market. The IV rank is 10.16%, & The Beta is 1.41%, a jolt of IV is all that's needed here. LMK what yall think of my TA feedback is always welcomed.
XOM trade ideas
Confluence of ideas for ExxonThe double bottom path is in green. You can see the measured move would put price at 80. You can also see each impulse leg the last two times have been almost equal. So the next one would put it around 72 along with a median line from a pitchfork. Plus its spring/summer time. Time when everyone goes on vaction and needs gas to get there. time for price to rise.
5/10 XOMThink I posted XOM last week, and I took profit last Friday on my options (more secured in short-term)
(1) this is a weekly chart one
(2) I see WTI oil will rally up again in mid-to-long timeframe
(3) XOM just finished wave 4, aiming higher to wave 5 (66-72)
(4) TAKE A LOOK IN DAY CHART, it could either go to my target price next week, if not, we will see a good CUP AND HANDLE entry zone again.
(5) IMO, you can also consider uso, gush, oxy and others. oxy vs xom is like all vs dal/luv to me.
Technical analysis update: XOM (8th May 2021)XOM currently shows very high correlation with oil price. This coincides with our bullish outlook for oil prices. Furthermore, technical analysis of RSI and MACD remains bullish. We also see buildup in volume. Because of that we would like to upgrade our short term price target for Exxon Mobil to 65 USD per share. We believe that XOM will break above resistance at 62.55 USD during the next week. We view this as possible catalyst for move up.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
$XOM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $XOM after a Negative over reaction following its earnings release placing the stock in drift C
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Oil under Pressure??On the monthly March showed momentum was slowing down and i was expecting April to reflect this with kijun resistance at 56.80. April ddnt give us much in terms of bearish signals. Then right at the end on the 29th we had a peculiar looking bearish abandoned baby and a strong bearish candle the day after with good volume. Since 56.80 is the inflexion point, i will put a sell order on break of that level.
Entry: 56.70
SL: 59.90
TP: 47.05
R: 3
Exxon-Mobil Corp. (XOM)The company announced estimated first quarter 2021 earnings of $2.7 billion, or $0.64 per share assuming dilution, compared with a loss of $610 million in the first quarter of 2020. Results included unfavorable identified items of $31 million, or $0.01 per share assuming dilution. First quarter capital and exploration expenditures were $3.1 billion, $4 billion lower than the first quarter of 2020. Oil-equivalent production was 3.8 million barrels per day, up 3 percent from the fourth quarter of 2020. Excluding entitlement effects, government mandates and divestments, oil-equivalent production was up 2 percent. During severe winter weather in Texas in February, ExxonMobil cogeneration facilities generated 400 megawatts of electricity, helping to power about 200,000 homes. The severe weather event reduced first quarter earnings by nearly $600 million across all businesses from decreased production and lower sales volumes, repair costs, and the net impact of energy purchases and sales. All affected facilities have resumed normal operations. Exxon Mobil shares offer strong total return possibilities to 2024-2026. Recovery potential is relatively attractive
if the expected comeback in fuel demand takes place. Meanwhile, the dividend provides strong income.
• Cash flow from operating activities of $9.3 billion fully funded dividend and capital expenditures, and drove
debt reduction of over $4 billion.
• Lowered cash operating expenses versus the first and fourth quarters of 2020; on pace to deliver additional
structural cost savings.