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EXXON MOBILEXXON MOBILEXXON MOBIL

EXXON MOBIL

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4XOM trade ideas

Exxon May Be Trying to Break OutEnergy is the only sector with a positive return so far in August. Today’s chart focuses on Exxon Mobil, the biggest and most liquid name in the group. First consider the trendline along the highs of May 8 and July 3. XOM surged after breaking out and has now come down to hold the same line. Is old resistance becoming new support? Second, last week’s lows represented a 50 percent retracement of the move from the July low to the August high. Third, the 8-day exponential moving average (EMA) has remained above the 21-day EMA. That potentially suggests its short-term trend is getting bullish. (Only 21 percent of S&P 500’s members could make make such a claim last Friday, according to TradeStation data.) Last week’s bounce also occurred at the 50-day simple moving average (SMA), which is additionally trying to turn higher. These points could make traders look for more gains if XOM can break the falling trendline that’s appeared since mid-August. Finally, fundamentals may support energy. Crude-oil inventories have been lower than expected the last two weeks and the Strategic Petroleum Reserve (SPR) recently hit the lowest level since late-1983. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more. Important Information TradeStation Securities, Inc., TradeStation Crypto, Inc., and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., all operating, and providing products and services, under the TradeStation brand and trademark. TradeStation Crypto, Inc. offers to self-directed investors and traders cryptocurrency brokerage services. It is neither licensed with the SEC or the CFTC nor is it a Member of NFA. When applying for, or purchasing, accounts, subscriptions, products, and services, it is important that you know which company you will be dealing with. Please click here for further important information explaining what this means. This content is for informational and educational purposes only. This is not a recommendation regarding any investment or investment strategy. Any opinions expressed herein are those of the author and do not represent the views or opinions of TradeStation or any of its affiliates. Investing involves risks. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options, futures, or digital assets); therefore, you should not invest or risk money that you cannot afford to lose. Before trading any asset class, first read the relevant risk disclosure statements on the Important Documents page, found here: www.tradestation.com .
NYSE:XOM
by TradeStation
XOM to ATHObserving the one-day chart of Exxon Mobil, I’ve spotted an upward trend highlighted in yellow. Recent price action shows strength, with a bounce just before the support level. And, we’re seeing a breakout from a smaller downward channel, followed by a return to test it. The stock closed a gap at 107.73, reinforcing its upward potential. With strong momentum and this backtest, I believe XOM could aim for new highs. My first profit target is 114.45, coinciding with gap fill.
NYSE:XOMLong
by TriumphOne
Double top form of ExxonMobil's stock has been completedDouble top form of ExxonMobil's stock has been completed This chart shows the weekly candle chart of ExxonMobil's stocks over the past 4 years. The graph overlays the bottom to top golden section at the beginning of 2020. As shown in the figure, the small-scale double top form of ExxonMobil's stock has been completed. Now, there is a long short competition at the bottom of the figure against the 3.000 and 3.272 positions in the golden section, and it is likely to break down in the future! For a period of time to come, just use the long start level of ExxonMobil's stock in late March this year at $99.63 as the long short divide!
NYSE:XOM
by Think_More
XOM Exxon - Spring Coiled Or Hanging By A Thread?Every time the price of oil goes up, there's a group of bulls that are sure they're catching the train to $150. I mean, I do think oil will go to $150, and there has to be a bottom that comes first, so there's that. But with fossil fuels and energy producers it seems the pumps are rare, the consolidations are frequent, and the dumps are more common. In two recent calls, I suggest that oil may actually be on its way to a 3-handle Oil - A New Long Leg Down Soon Begins This particular thesis is at something of its inflection point. All the way to $85 would not be surprising, nor would it invalidate the short trade. But here we chop in the $80s. For Natgas, in a recent call, I suggest that price needs to raid $1.6~ before the rocket mission to $10 can commence NatGas - No Moon Until Doom Natty has rallied fairly meaningfully in the last few days, and it may even actually finally punch out $3. But if it can't continue from there, the idea may still be correct. A big tell that something isn't right in the bull thesis for Exxon is that after the highs were swept in April at $119~, everyone long over $111 has remained trapped ever since, with price not following oil's recent $20 rally. Now for Exxon, something that's really notable is that the CEO recently bought himself some 650,000 shares for $69 million. This makes many people believe that new highs simply have to be coming. When we look at monthly candles, we can see we're "flagging" above the old All Time High, there's no indication that it's a reversal, and yet, for three months, there is no reversal. On the weekly, last week's price action gave the appearance that it's finally time, but it may have just been a stop sweep over the range high. It's notable oil is pumping, but Exxon is not, despite its stellar earnings report. An important thing to note about Exxon is next dividends ex-date is August 15 and the payout is 91 cents a share. The CEO will pick up some $591,000+ in cold cash mitigating his position. It's also worth noting that when it comes to insider buys, they aren't necessarily indicative that price is going to go up before it goes down. The man may have understood he could make more than the 5% he can earn in the money market by buying Exxon and loaning the shares out to short sellers, combined with dividend payments, over the next year, for example. The most rational place for Exxon to correct to, if it were to correct, is the $68 level. There are a lot of geopolitical risks right now with China, the Chinese Communist Party, Xi Jinping, and the CCP and the Jiang Zemin faction's 24-year persecution and organ harvesting genocide against Falun Gong. This is really the biggest piece of the puzzle that you need to educate yourself with, but establishment media doesn't talk about it. All of this directly impacts the oil market. And the War in Ukraine impacts the oil market, because if the War is called off then Russian oil is going to flow worldwide again and amount to a big time supply increase. Things can change any time.
NYSE:XOM
by LordWrymouth
XOM Exxon Mobil Options Ahead of EarningsIf you haven`t bought XOM here: Or when they made more money than God: Then analyzing the options chain and the chart patterns of XOM Exxon Mobil prior to the earnings report this week, I would consider purchasing the 105usd strike price Calls with an expiration date of 2023-8-18, for a premium of approximately $2.16. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:XOMLong
by TopgOptions
XOM to see 91 after 100 psych breakXOM: Sell the bounces at $100, $91, and $63-75 levels levels (+/- a little as I prefer to use zones). If you look at my longer-term analysis, my projection is $75.38 .618 fibonacci level, possibly seeing lower, somewhere between 63 (.786 fib level on weekly timeframe) and 75 (.618 weekly fib level) for a few days as a weekly pierce but closing out at that point in the future at .618 which may represent a buy once we hit 75, but i'm unyielding bearish, even if my abc count is invalidated, with my A wave ending at 101.59 instead of 91.57, any bounces from there would be viewed to me as short open opportunities, or opportunities to sell into cash, but this may take many months to over a year or more to occur. The fibonacci levels of .382 and .618 will be very strong, so expect bounces here. However, these should be seen as sell-out bounces and not as bounces providing hope of a continued trend above $120. This will likely be a buy opportunity at the mid-60s. I wouldn't touch anything beyond short-term call options on the long side here, regardless of their $4.9 billion venture, which is viewed as a hedge against the substitution effect from oil to electric grid-based resources. I always start with Daily to Weekly timeframes when developing a trend bias, so I always know where the market structure is. Going back to October 2020, this stock was around $28 per share, topping around $117 per share in February of this year. A drop to around $91 represents a .382 Fib retracement, where I possibly see our Weekly A Wave of the higher-order ABC correction concluding, leading to a bounce towards 100-101 before a fall towards 75 zone. For longer-term buyers adamant about buying this thing, I would at most start dollar cost averaging once we get into the 80s, more progressively as we break below 80. But again, remember that oil's relevance may be very high in the future but not as high as it was in the past and is diminishing over time, in my opinion.
NYSE:XOMShort
by candlestickninja
Channel DownDiagonal trading channel. Looks like an earnings miss. The Channel Down pattern is identified when there are two parallel lines, both moving down to the right across respective peaks (upper line) and bottoms (lower line). The upper line is identified first, as running along the lows: it defines the trendline. The lower line (or, the channel line) is identified as parallel to the trendline, running across the first prominent bottom. When in the channel, prices are expected to bounce off both upper and lower boundaries until the channel is broken; the more such reversals occur, the more reliable the pattern. No recommendation
NYSE:XOM
by lauralea
3
throwover complete for XOM?My forcast of a top at high 105s is still in tact as we had a throw-over to 107 today. I mentioned previously a 20% chance we hit 108-111 zone temporarily but the fall is still imminent to 98 (within a week), then 85 (after a 98 bounce which could take weeks to months) intermediate term, then my longer term .681 (monthly ++ chart) forecast before XOM is a buy again on a value basis is $63-$65 zone.... we shall see.. Expect volatility through the end of the month and a drop after any trumped up month end rises. I see $108 to $111 as our hard ceiling and where we are now as our relatively hard ceiling with month closing rallies that will serve as fake-outs or bull traps.
NYSE:XOMShort
by candlestickninja
1
XOM UpdateDon't get it twisted this submarine is going to scrape the floors in the near future. Remember, we have a transition (substitution effect) off of oil to electric, even with their soon-to-be 4.9 billion dollar purchase (which poses it's own risks), so thouugh it's a long term mitigating factor, the stock has risen from 28 in early 2021, lol when you realize or don't allow your cognitive bias of anchoring interrupt your thought, you see why the 62-65% level will be seen. tagging as short for my timeframe sentiment though my pop is short term bullish (but i would not touch it on buy side unless it was weekly calls)
NYSE:XOMShort
by candlestickninja
XOM The energy sector is one I discussed in my 03 July 2023 report, highlighting the related ETFs as well as the oil price which, at the time, had a pending breakout. The underlying commodity (oil) has since started to turn higher, which may be a boost for the sector, which also saw strong buying activity in recent weeks. Exxon Mobil's key drivers are as follows: (1) Price largely unchanged since October as the price absorbs overhead supply. (2) currently test the incline support in place since February 2022 (3) In the short term, is trading at the lower boundary of the 2 standard deviation, 50-day linear regression channel (with positive candle structure at the time of writing) (4) horizontal support in place. With energy perking up on a relative basis, a tactical rebound may be possible with the potential to breach the downward trend line. Do note that event risk is at hand with earnings due on 28 July 2023. Time Stop: 31 October 2023
NYSE:XOMLong
by techpers