XOM trade ideas
Big Oil Holds Potentially Big Level Before OPEC MeetingEnergy has lagged all year but it’s flashing some potentially bullish signals recently.
While everyone has focused on China and tariffs, crude oil futures are headed for a bullish outside week. Meanwhile there’s growing talk that OPEC will extend its production cuts at the next meeting December 5-6. Remember the Saudis want to list shares of their Saudi Aramco oil giant next month, and now Reuters says they might seek a higher valuation by driving up crude prices.
While Aramco won’t trade in the U.S., Exxon Mobil does. Another news report today says XOM plans to accelerate asset sales to raise $25 billion. Taking a look at XOM, we find it’s a holding a key long-term support around $67 that goes all the way back to August 2011.
This technical line, combined with the double-dose of potentially good news from OPEC and asset sales, may create an interesting risk/reward for traders wanting to own XOM.
IDEA : Exxon Mobil Corp (XOM)Daily chart has complete XABCD or Butterfly pattern and provide a solid SELL signal.
Currently the price is approaching Strong Support around price 66.70.
Prediction it will try to reach support level before Bullish and try to reach Trendline.
Elliott Wave View: Further Downside in Exxon MobilExxon Mobil (ticker symbol: $XOM) shows an incomplete 5 swing Elliott Wave sequence from April 23, 2019 high favoring further downside. In the short term chart below, we can see the rally to $73.12 on November 6, 2019 ended wave (X). The stock then resumes lower. The structure of the decline from November 6 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from Nov 6 high, wave ((i)) ended at 71.2 and wave ((ii)) rally ended at 73.09. The stock then continues lower in wave ((iii)) towards 68.6 with internal subdivided as an impulse in lesser degree. The bounce in wave ((iv)) ended at 69.50
Exxon Mobil finished wave ((v)) of A at 67.33 low. The stock is bouncing bounce in wave B to correct cycle from November 6 high before the decline resumes. As far as pivot at 73.12 high stays intact, expect rally in the stock to find sellers in the sequence of 3, 7, or 11 swing for further downside.
[Long] XOMIn a previous post I pointed out XOM's three white soldiers formation, and I believe this is a sufficient retrace.
WIth CPI showing signs of accelerating, I think this dip in XOM is a gift here. I'm now up to 300 shares and will hold and collect dividends for as long as I can. Let's see how long this "temporary Not QE" will last.
There IS A RISK of failure related to shale oil malinvestments. In that case, other tickers like CNQ and VLO might be better to swing for energy exposure. I will watch those and if we get a dip I may rebalance.
$XOM short into the year end$XOM is rejected by the recent high again as the Oil is rejected from 58 again. Look for the short trades targeting 69
[Long Watch] XOM - Three white soldiersAfter a long 5-year bear market, the forgotten energy sector of the S&P could be coming back to life, on the backs of a strong market that is beginning to price in the Fed's "Not QE" and inflation expectations - see COW, WOOD, NIB.
Pretty much nobody is expecting inflation even as the core CPI is starting to trend up.
This three white soldiers candlestick pattern could mark the bottom of the energy sector and the end of deflation. XOM is not a bad investment at 5% dividend and a lot of upside potential. They also invest in renewables. VLO also looks good, though that is a bit more extended.
I wish I was smart enough to hold onto my position from lower, but I was trying to trade around and get lower prices.
I would go long XOM, VLO, CNQ on any pullback, and keep a core holding for at least the next 6 months and possibly forever if inflation returns.
$XOM Exxon Moves higher as earnings were better than feared. Entry level $69.20 = Target price $74 = Stop loss $67
Earnings were not fantastic but not as bad as expected, so we could see somewhat of a relief rally in the coming days.
Indicators are bullish having reset.
P/E ratio 16.55
Yield 5.07%
Company profile
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX.
Exxon Stock Descending trendTF Assignment. Stock Exxon. An evident resistance line that indicates a descending trend on the price
XOM Head and Shoulders Getting Close at a Time Oil is DroppingMassive head and shoulders that will break if Oil continues to break down, which is looking likely.
XOM Daily Bullish Divergence on RSIExxon has been struggling for a long time, and the long term trend still remains bearish. But for the medium term, we see bullish divergence on the RSI and a double bottom in the price action. We should see for some gap up within the next few weeks or months before coming back down to follow the long term bear trend.
XOM Retests Bottoming LowsXOM retested the lows of the current attempt to bottom, which is slightly above the previous lows of December 2018. The selling down was swift and steep, resulting in a bounce up which was on weaker Volume.
Exxom looks a safe bet into year end. They weekends events have obvious repercussions for the Energy Sector, despite this we were already entering a high demand phase of the year and now, we add the possibility of the USA stepping in to supply China while Saudi Arabia attempts to regain production, this could help greatly in easing trade tensions between they two nations while maybe creating the cornerstone of a much greater trade deal. Exxon looks a very secure investment in the short to medium term.
AVERAGE ANALYSTS PRICE TARGET $82
AVERAGE ANALYSTS RECOMMENDATION HOLD
P/R RATIO 17
SHORT INTEREST 1%
YIELD 4.8%
COMPANY PROFILE
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX.
Inverse Head and ShouldersPT: 78; 8% higher than current PT. Secondary PT 82.78
Macro oil market due to instability should easily push SP to target
XOM long setupXOM’s innovation outlook is trending up based on a current score of 76 out of 99, outperforming sector average. Jobs growth over the past year has decreased and insiders sentiment is neutral. XOM is an Average Performer in terms of sustainability. It is most exposed to Schneider Electric S.E. as its supplier. Over the past 4 quarters XOM beat earnings estimates 3 times and it pays dividend lower than its peers.
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#XOM Good Bullish Pattern targeting 78.5 $XOM Exxon Mobil Corporation Very nice Bullish pattern targeting new uptrend for long term but 1st targeting previous major top and fibo resistance at 78.5 good RSI MFI and stochastic too Note: not recommended for options traders :)
Exxon Mobile 4.9% dividend attracts investors.While the stock is still 40% of its high, investors are hoping that the bottom is in and see the value within in the stock, the 4.9% dividend is a huge positive for the stock as uncertain times may be forthcoming.
A move above the 50 MA should ignite a rally.
Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX.
