XOM trade ideas
Short on Exxon Mobil. XOMHere we have a running or expanded flap developing, and as usual, looking to profit on the final le
XOM- BULLISH SCENARIOExxon Mobil is one of the world’s largest and most successful companies. Its operations alone produce more income than the GDP of various small countries.
The company has a pipeline of key projects in the Permian – the most prolific basin in the United States – and offshore Guyana. In the Permian, ExxonMobil has an inventory of more than 8,000 well locations, with the integrated energy major estimating a net of 10 billion oil-equivalent barrels of recoverable resources. In offshore Guyana, it made several discoveries that XOM estimated at more than 10 billion oil-equivalent barrels of recoverable resource.
In the long term, the price is expected to continue the uptrend in the price channel with a price target of $ 124.
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Exxon (XOM) ... Be on Alert Grasshopper Last Friday Exxon (XOM) achieved an all-time high.
This was on the back of their latest full year earnings, which handily beat analysts estimates.
If recession fears continue to dominate and actually result in a economic downturn, XOM may become an institutional sell candidate
Consider:
1) shares are at the top of an ascending channel in place since June 2020.
2) XOM's price has nearly tripled in the same period.
3) 2 Bearish Harmonic patterns are currently in place. ( marked on the chart)
4) XLE peaked in June 2022 and is on its 3rd attempt to challenge this level
5) If there is an broad based economic slowdown this may be an early victim.
Note: Q1 earnings are expected in late April.. a quarter which is usually softer.
XOM announced up to $35B in shared buybacks.
Bottom Line: Don't short XOM here but be vigilant for a price reversal particularly in a softer broad markets,
In a world were Petro and dollar flows are unstable, share price going forward could be quite volatile especially since it is fully priced IMHO.
If there is a well defined break, I have marked potential target levels.
As usual ... DYODD
Good Luck
I will update as needed.
S.
XOM SHORTI will want to see Tuesday close to open a short position on XOM as it can not claim upper levels in my opinion XOM could fall to test 100s
Straight to the point: XOM within the next 3 monthsUPDATE: It just hit the bottom of the trend line, which means that I expect it to keep on going upwards.
There is a pattern that I am noticing. It tends to hit the bottom during mid-fall and peaks at mid-to-late June (possibly due to people dropping their positions after dividend pay out). The runs usually lasts for around 250 days. Purely based on this pattern, the uptrend will keep on going. If the price were to fall below 97, I'd be concerned. So far, it still seems to have some steam to expend. RSI hit 30 on daily chart. MACD will most likely show a reversal at any given moment. Price hit the 200MA and bounced right back up.
I see this hitting 137 by the end of June before heading back down to 115-120 area.
XOM, Possible Long Term Play with around 200 targetExxon Mobil Corporation stock MAY see around 200 USD price in up coming years !
Today, we are going to investigate one of the giant oil companies. XOM has completed a complete ascending wave cycle from 1970 to 2020 . Impulsive section of this wave cycle was between 1970 and 2014 and corrective section started at 104.76 (former ATH) on 2014 and lasted for 6 years . On Mar 2020 stock bottomed with double bottom pattern at 30.11 USD around 0.786 Retracement level of the whole large time frame bull run. This complete wave cycle can be labeled as primary degree wave 1 and 2 of the larger degree wave cycle ( cycle degree).
After end of primary degree wave 2 , a considerable up side move started which strongly broke multi years down trend line and reclaimed the ATH ( actually made a new one ). This strong and steep up going wave can be considered as primary degree wave 3 which can push the stock up to around 200 USD. This primary degree wave 3 can itself be divided to 5 intermediate wave degree and I suppose currently we are in wave 4 (minor degree ) of wave 1 (intermediate degree) of 3 ( Primary degree ).
What all above explanation means? It means most probably we have an up side move from around 78 to around 116 USD . Then , a considerable correction of intermediate degree wave 2 of primary degree wave 3 may start which can hammer down stock to around 63 USD . After that , most powerful and steep wave will start which can break the upper bond dynamic resistance ( as this the typical character of wave 3 of 3) and lead the stock to above 150 USD. All other predicted wave moves are shown on the chart.
Therefore, I certainly keep XOM in my watch list to open a profitable long position in appropriate time ( most probably in up coming weeks).
Please note our chart is in monthly time frame and there may be many fluctuations in up coming weeks and days. In addition, timing on the chart may become incorrect as timing is the most difficult task in charting. Also I kindly ask you to keep in mind this is before the fact long term prediction and normally it may need some updates in future.
I hope this analysis to be useful and wish you all the best.
Bearish VCP PatternThe title says it all. We're in a bearish market with bearish sentiment. Price needs to break the floor at 108.90''ish with momentum. The contractions are getting smaller. I sense that there will be a big move like a beach ball being held under the water, once released the move will should be explosive "imo".
Oil don't come from bones
I think a lit a fuse..
Embryos in food
Feed them in the school
Every day at noon
Police still abuse
Pedos get excused
Flowers still in bloom
Politicians lie
Chemtrails in the sky
Clones report the news
Clones report the news
Clones report the news
Clones report the news
Fluoride in your water
Babies get the needle
Before they leave the womb
Zombies in the room
Zombies in the tomb, elephant, what?
Elephant in the muthafuckin room
Bones don’t turn to oil
Bones don’t turn to oil, nigga
Bones don’t turn to oil
Bones don’t turn to oil
Bones don’t turn to oil, nigga
Bones don’t turn to oil
Bones don’t turn to oil
Bones don’t turn to oil, nigga
Bones don’t turn to oil
Bones don’t turn to oil
Bones don’t turn to oil, nigga
Bones don’t turn to oil
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XOM breaking downWith the recent weakness in Oil and natural gas, its likely impacting the performance of XOM stocks going forward. XOM is testing some key areas. If the levels break the target on XOM is $100.00
Exxon Mobil Has Pulled BackExxon Mobil has steadily advanced for more than a year, and its current pullback may interest trend followers.
The first pattern on today’s chart is $104.76, XOM’s previous all-time high from 2014. Notice how this level was resistance for the energy giant last June, followed by an October breakout. Prices probed and held the same area in December and January. Has old long-term resistance become new support?
Next, XOM has been testing its 100-day simple moving average (SMA) and is near its 50-day SMA. That may suggest its longer-term uptrend remains in effect.
The current price range is notably tight, producing an inside candle on the weekly chart (marked in yellow). Traders may watch for directional movement to continue following that kind of consolidation. They may also use last week’s range for price triggers.
Finally, stochastics have fallen to an oversold condition.
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Exxon Mobil Micro-FractalsMicro-fractals found at top of base bullish wave echoed to current condition of the market.
Looks like a short squeeze.
First top of first wave stands for first top of second wave:
Also, second top of first wave can represent the top of first top of second wave because of distinctive shaper but with different timing application of bottom fractal circled.
Parallel match top and bottom angle of the recent Fibbed if it really declines right from current top:
No? In case price reaching upper channel (red zone of general fibonacci channel not in pic above) with rapid last growth will cause massive forthcoming movement to the opposite direction.
$XOM: Strong uptrendNice setup here in $XOM, new 52 week highs on higher than average volume with a Time@Mode trend signal confirmation this week. Monthly and yearly trends are up, overall oil stocks could continue being the best prospect with a potential rebound in inflation figures coming next, Russia 'cutting' production (likely forced to do so by the effect of crippling sanctions) and China reopening boosting aviation fuel demand, while the economy possibly dodges a recession, and business investment goes back to pre-pandemic trend levels, among other factors. The latest State of the Union speech has likely contributed to weakness in US Treasury bonds, and coupled with NFP might have triggered rotation back into value/energy from growth names ahead of CPI data.
All in all, low risk to follow this development and be positioned in value stocks and particularly energy for the coming months (and likely years).
Best of luck!
Cheers,
Ivan Labrie.
Short XOMIt’s risky
But if u need a hedge for your yolo longs
This could be it
Geometrically it can reverse here
Will it I don’t know
But I have to short something so I guess this is it
Will be a tiny % of my positions
I’m generally bearish oil and I know the majority wouldn’t consider shorting this sector
I’ll update if a find something better short in a bull market
NOT TARDING ADVICE
still upwards movement, but not before downI still believe this stock can go up alot but it seems like the whole market has been overbought recently, so most stocks will be affected. I'll see that EXXON will head downwards to the 105 level before continuing to 145 level in the later parts of the year. Still shocking how the P/E ratio is so low. I'll update when this hits my buying area.
XOM shortI am bearish on XOM again.
My short position levels are:
Entry: $111.92
TP: $104.10
SL: $115.04
Risk/reward: 2.51
Is XOM a sell for the rest of this week? $110 or below?I have been patiently waiting for a break above $114.16 on XOM. (Typically very even level resistance and support levels are great traps to reverse us the opposite direction of the initial breakout) When we got it we immediately fell below on the retest, leading me to believe this is a false breakout to trap buyers from more volume based on earnings. Additionally, once we started selling above $117, we reclaimed the zone and retested earlier this morning and immediately rejecting all the way back down o $113. If the potential lower high is at $115.84 and can stay under $116, I think there's room to $110 or below.
Fed day is over, have we already had our fun for this week?
$XOM with a Bullish outlook following its earnings #Stocks The PThe PEAD projected a Bullish outlook for $XOM after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
XOM daily - bullish after break out of ascending triangleXOM is a bullish/strong fundamental stock therefore would be traded only on the long side.
XOM is inside ascending triangle which is a bullish pattern. There is strong resistance at 114$, With the breaking of that price we would break out from the pattern, and also we would break the last high which would be very bullish.
XOM is above all major MA which is bullish.
Volume is neutral.
RSI is neutral but has small bearish divergences.
MACD is neutral.
Overall: XOM is close to breakout from ascending triangle which would be bullish with a target 120-123 area. If its breakout above the blue dotted line it will trigger a buy signal.
However be aware of earnings which will be on 31 Jan, so do not trade over that report, please :).
Long trade would be triggered if a breakout of a blue dotted line.
Will Exxon march higher or perform a fake out?Since our previous post on Exxon Mobil, it has increased significantly in value against our expectations. Unfortunately, with the upcoming earnings, the stock might get an additional boost in price, which is already hovering near all-time highs. As a result, XOM breaking above $114.66 will force us to abandon our price target on the downside. However, even if a breakout occurs, we will continue to pay close attention to subsequent price action and monitor volume very closely. To support the idea of a fakeout, we would like to see a continual drop in volume accompanying price growth on the daily chart (just like on the monthly chart). As for the outlook beyond the short-term, we remain worried that ranging oil prices between $70 and $85 per barrel will threaten the well-being of this stock title. Furthermore, higher taxes on energy companies, economic slowdown, and oil down more than 35% since its 2022 peak will put pressure on further price increases.
Illustration 1.01
Illustration 1.01 shows the hourly chart of XOM. The yellow arrow points to a technical glitch at NYSE, which saw multiple stock companies plunge and turn on circuit breakers. We can potentially discard this movement.
Illustration 1.02
Illustration 1.02 displays the monthly chart of XOM. The red arrow indicates a continual decline in volume, which is a bearish technical development.
Illustration 1.03
Illustration 1.03 shows the daily chart of XOM and the updated setup.
Please feel free to express your ideas and thoughts in the comment section.
DISCLAIMER: This analysis is not intended to encourage any buying or selling of any particular securities. Furthermore, it should not be a basis for taking any trade action by an individual investor. Therefore, your own due diligence is highly advised before entering a trade.
XOMThe Trend Lines are above. If SPX does not decline, all the stocks can start a rally which I expect cannot exceed the ATH. I expect 2024 will be the bigger rally and this year, I expect fluctuations.
Not an investment reccomendation.
