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EXXON MOBIL CORPEXXON MOBIL CORPEXXON MOBIL CORP

EXXON MOBIL CORP

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XONA trade ideas

ExxonMobil projects stability in global oil demand through 2050ExxonMobil has released a report projecting that global oil demand will remain stable until 2050 despite the accelerating shift towards renewable energy sources. According to ExxonMobil, oil demand is expected to stabilise after 2030, maintaining levels above 100 million barrels per day, closely aligning with the current 102.2 million barrels per day. This forecast starkly contrasts with its competitor, BP, which anticipates a decline to 75 million barrels per day by 2050. The report highlights that petroleum products will continue to play a critical role in industrial processes and heavy transportation sectors such as shipping, trucking, and aviation. Moreover, ExxonMobil notes that despite the increased adoption of electric vehicles and other renewable energy resources, oil and natural gas are projected to constitute over half of the global energy mix by 2050. This outlook supports an optimistic long-term scenario for ExxonMobil's core oil and gas operations. Technical analysis of Exxon Mobil Corporation (NYSE: XOM) Reviewing potential trading strategies based on the technical setup of ExxonMobil's stock: Timeframe : Daily (D1) Current trend : the stock is trending upward within an ascending channel, having recently rebounded from the support level at 114.00 USD and approaching a critical resistance at 120.00 USD Short-term target : the immediate upside target lies at the resistance level of 123.65 USD Medium-term target : a breach of the 123.65 USD resistance could pave the way for further gains towards 127.60 USD Key support : positioned at 114.00 USD Reversal indicator : if the stock breaks below the key support at 114.00 USD, it will negate the current bullish scenario, potentially driving prices down to 108.45 USD ExxonMobil's shares currently benefit from positive momentum, having broken the upper boundary of a descending channel. A successful breach of the key resistance at 120.00 USD would signify an exit from a Triangle pattern, potentially strengthening the bullish momentum with a target at 127.60 USD, aligned with the pattern's projected outcome. Investors should closely monitor ExxonMobil's movements, especially in light of its optimistic oil demand forecast and the potential impact on its stock price in the context of prevailing market dynamics and energy sector trends. — Ideas and other content presented on this page should not be considered as guidance for trading or an investment advice. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews. The material presented and the information contained herein is for information purposes only and in no way should be considered as the provision of investment advice for the purposes of Investment Firms Law L. 87(I)/2017 of the Republic of Cyprus or any other form of personal advice or recommendation, which relates to certain types of transactions with certain types of financial instruments. Risk Warning: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 65.68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
NYSE:XOM
by RoboMarkets
EXXON MOBIL Downtrend Line Rejection At 119.31 02.08.2024Downtrend Rejection: Exxon Mobil (NYSE: XOM) shows a downtrendline rejection at $119.31 on the 1-hour chart. Bearish Scenario: If rejection holds, the price may decline to $114.25 and $110.27. Bullish Scenario: If rejection fails, the price could rise to $125.75 and $133.93. Apply risk management Risk Warning: Trading in CFDs is highly speculative and carries a high level of risk. It is possible to lose all of your invested capital. These products may not be suitable for everyone, and you should ensure that you fully understand the risks taking into consideration your investment objectives, level of experience, personal circumstances as well as personal resources. Speculate only with funds that you can afford to lose. Seek independent advice if necessary. Please refer to our Risk Disclosure. BDSwiss is a trading name of BDS Markets and BDS Ltd. BDS Markets is a company incorporated under the laws of the Republic of Mauritius and is authorized and regulated by the Financial Services Commission of Mauritius ( FSC ) under license number C116016172, address: 6th Floor, Tower 1, Nexteracom Building 72201 Ebene. BDS Ltd is authorized and regulated by the Financial Services Authority Seychelles (FSA) under license number SD047, address: Suite 3, Global Village, Jivan’s Complex, Mont Fleuri, Mahe, Seychelles. Payment transactions are managed by BDS Markets (Registration number: 143350) Disclaimer
NYSE:XOMShort
by Stuart_Cowell
XOM “Exxon Mobile”…..Ascending Channel…..Oversold RSIXOM “Exxon Mobile” is approaching support in this ascending channel which it has bounced from twice back to mid June. Also oversold on the RSI on the 1H Chart…..with us receiving GDP data and a few other important economic data reports this week I believe investors may move may began moving some money around and we’ll begin to see some bullish momentum in the energy sector…..let’s see if the bull step in!
NYSE:XOMLong
by Gutta_CEO_
3
Xom at a pivotal areaNever financial advice. Just offering perspective. The other side of this thesis, is we get moving to take out the highs at 123.75, then 143.47. In order for that to happen, we need to hold above 113.89, push to 115 and through 116. At that point we may start to see upward momentum or a slow grind leading into earnings. This idea is cleaner on the charts than the bearish view and seems more probable. There a few signs from bulls that can start to solidify this thesis. There seemed to be a high interest in deep discount where buyers stepped in, showing signs of strength that will follow through at the round numbers 115 & 116 to remain valid. Upcoming earnings can be the gas needed to create new all-time highs. Earnings is in 28 days.
NYSE:XOMLong
by bwinvests
ExxonMobil: Technical Indicators Signal Potential TurnaroundAs ExxonMobil (XOM) stands at a critical juncture, investors are scrutinizing its technical indicators and recent price action to predict the next move in this energy giant’s stock. Let's delve into a comprehensive technical analysis to uncover potential trading strategies, price targets, and key points for executing positions. ExxonMobil's recent price of $109.38 shows a modest uptick, indicating a potential pause in the bearish trend observed over the past few weeks. The volume of 17.76M is slightly above the 30-day average of 16.39M, suggesting a growing interest from traders possibly due to recent news impacting oil prices and energy stocks. The daily candlestick shows a small green body with a higher high and higher low compared to the previous session, which can be interpreted as a bullish signal. This pattern indicates potential buying pressure at the current price level, which might be fueled by broader market sentiment or sector-specific developments. The overall trend, observed over the last six months, highlights a significant retracement from the highs near $120.00, touching lows close to $108.00 recently. This downtrend could be attributed to fluctuating oil prices and macroeconomic factors impacting the energy sector. The stock is trading below key moving averages (10, 20, 30, 50, and 200-day), all indicating a bearish sentiment. The Exponential Moving Averages (EMAs) for these periods are signaling a "Sell." Notably, the Simple Moving Average (SMA) for the 200-day at $109.36 is very close to the current price, suggesting a critical support level. Breaking below this could signal further declines, while holding above may attract buyers. Relative Strength Index (RSI): At 35.72, the RSI is approaching the oversold territory. This typically suggests that the stock might be undervalued at current levels, providing a potential buy signal. MACD: The MACD histogram shows a bearish divergence, with the MACD line at -1.95 below the signal line. However, the gap is narrowing, indicating potential for a bullish crossover in the near future. Stochastic Oscillator: With a %K value at 6.89, it signals a "Buy" as it is deeply oversold. This reinforces the idea that a rebound might be imminent. Key Support and Resistance Levels Based on the Pivot Points analysis: The immediate support is observed at $109.57 (Fibonacci S2) and $108.80 (current low). Resistance Levels: On the upside, significant resistance is at $116.65 (Pivot Point) and $120.50 (Classic R1). A break above $113.95 (S1) could set the stage for a retest of these higher levels. Recent news around ExxonMobil highlights its strategic maneuvers in renewable energy investments and responses to fluctuating crude oil prices. Positive developments or announcements can spur short-term bullish momentum, whereas any setbacks in global energy markets could add downward pressure. Given the mixed signals from various indicators, a cautious approach is warranted: Long Position: Entry Point: Consider entering a long position if the price breaks above $113.95 with strong volume, confirming a reversal from current lows. Price Target: Aim for a price target around $120.50, aligning with the Classic R1 resistance level. Stop Loss: Set a stop loss just below the recent low at $108.50 to mitigate downside risk. Short Position: Entry Point: If the price fails to hold above the 200-day SMA at $109.36 and breaks below $108.00, consider shorting. Price Target: Target a decline to the next support level around $102.49 (Classic S3). Stop Loss: A stop loss around $113.00 would limit losses in case of a false breakdown. Conclusion ExxonMobil’s stock is at a pivotal moment where technical analysis provides valuable insights into potential market moves. The combination of oversold conditions, critical support levels, and evolving news makes XOM a compelling watch for both bullish and bearish traders.
NYSE:XOM
by AxiomEx
Exxon Mobile (XOM): Awaiting Long Term Entry at $65Our group has recently revisited Exxon Mobil Corporation (XOM), and while there hasn't been much change, it's worth reassessing. The stock has entered the zone between 100% and 138%, which we identify as the level for Wave A and has respected this level. Long-Term Outlook: We anticipate a significant downward movement over the long term, potentially reaching the $65 level. This is where we plan to make substantial long-term purchases. The range between $65.50 and $64.40 has been consistently respected, reinforcing our strategy to wait for these levels before entering the market heavily. Short-Term Outlook: In the short term, Exxon has been trading within a range for nearly a year and a half. It briefly broke below this range to complete the larger Wave (A)and then broke above it to finish the sub-wave A. We are now entering a potential Wave B zone. Current Strategy: - Long-Term: We are waiting for the price to drop to the $65 range before making significant purchases. - Short-Term: We are monitoring the $104 to $100 zone, which looks attractive for a potential reversal. However, given the risk, we are not placing any entries yet and will wait to observe the market's reaction.
NYSE:XOMLong
by freeguy_by_wmc