XOMGoing into next week we could see this push back to 100$. If this fails to break above 88 we will keep the downtrend to 70$
XONA trade ideas
XOM Back to tunnelNYSE:XOM
Energy Sector get weak, CCI at top, Volume increasing.
TP at Fibs Points.
ExxonMobil Shooting Star PatternThe weekly candles for the oil and gas company, ExxonMobil, look quite bearish. This could be the start of a major decline. There is a shooting star pattern forming on the weekly chart, while the oscillators are trending down and while the daily EMA exp ribbon and daily trend lines breaking down. Although anything can happen, it is looking like a major bearish reversal is occurring. It's sad that just last week all the "expert analysts" at CNBC were making strong bullish calls about energy stocks, citing "free cash flow" and numerous other reasons to buy them, all the while the charts are showing a topping pattern in energy and commodities. This is usually when tops form - when there is no bearish sentiment among anyone, and when strong hands are selling to weak hands. At least charts do not lie, and thanks to @TradingView anyone can access them alongside a plethora of crowd-sourced scripts and indicators.
Exxonmobil perfect harmonicT1: 40
T2: 46
Despite the bad news and the chaos , despite the dump on US oil... the chart is telling us the light at the end of tunnel 💡
Divergence in the weekly and daily chart, smart money is accumulating
XOM - failed breakout - short XOM failed to break to ATH's. Everyone who can be is already long surely. Short it back down towards the trend line. Fairly tight stop above the attempt at new highs this week.
XOM Bull ExperimentMarket corrections are like x-rays. They allow you to see truly strong assets which were previously hidden by speculative bullish chaos. At a glance, the setup in XOM looks scary, but you need to trust the wisdom of the market. The trend is your friend, and the trend is up. Look around and ask yourself, who is benefitting the most from the current economic environment? Sometimes the right thing to do is the scary thing to do. Ride it until it starts showing signs of weakness. I have no target, but will monitor this over time and provide updates if I feel it's time to jump out.
XOM, Cup and Handle Break out ! Long above 92.05 !XOM is beautifully formed a classic cup and handle pattern.
So far, we have break out , pull back and only remaining point to safe entry is a bullish candle above 92.05.
First target which was obtained by adding the depth of cup ( shown as H on the chart ) to the break out line is 104-105 USD.
Please note the crude oil trend is also up therefore , it is reasonable for energy stocks to go up.
In terms of Elliott waves, XOM may see much higher prices especially in long terms . I will publish my broader view for the stock later and propose my wave count and related long term targets ( s.th close to 200 USD !! ). For now, I just tried to keep it as simple as possible.
Wish you nice profits.
$100+ price target by September '22NYSE:XOM
Classic 5 wave pattern forming beginning in about Nov. 2020
Oil and Natural Gas supply disruptions will keep pushing price levels higher if demand doesn't wane
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Overall Inflation will continue to drive equities prices higher unless the Fed tightens at a faster rate than anticipated
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The seasonal gas transition will likely compound price inflation during the summer months of 2022
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$100+ price target by September '22
Disclaimer:
I am not an investment professional and nothing on this page constitutes advice
XOM - Blow Off UTAD ?XOM appears to be entering the blow off top phase of this enormous rally since 2020 lows.
1:1 fib extensions taken from the low and the thrust candles give targets of $109 and $112, however using 1.13 overshoot ratios could see XOM get as high as $124.
If it did get there it would touch the upper trendline of this long expanding pattern from 2008 of which appears to be itself a very long Wyckoff distribution pattern which would eventually see XOM return to much lower price along with USOIL.
Worth noting that the 2020 low was the first time XOM has fallen below the 200 month MA. Prior to that all price action had been corrective to the upside since 2008 top.
Down the road I very much expect XOM to touch the lower trendline and there is also an enormous gap at $32 that may fill at some point. This may provide a good entry to buy.
That said if this is a very long breakdown pattern and if XOM did top around somewhere between here and $124 then a 1.618 extension from the 3 significant pivots since 2008 would see XOM return to around $16-19.
Put IV is very low and a trade could benefit well from IV expansion.
Not advice.
Exxon - might be too late to jump on this trendThis is just a good talking point. Exxon could possibly move towards the 120$-150$ range here shortly. I'm not betting on it but let me also point out that this would be a first time ever for Exxon. I've been watch since they dipped to 35$ two years ago. If you did jump on the dip then you missed the Exxon train to make it rain.
XOM Great Company Bad Chart - Short With Cheap Leap Puts @ $100Title says it all short ONLY at the ROUND NUMBER $100 if it can reach there with ATM LEAP PUTS. Not Advice do your own DD
Missed opportunityA clear breakout occurred weeks back, but as we all know we are currently at the beginning of a bearish market or in the middle of it thus most traders or investors have been on the sidelines for the past couple of weeks and some bullish investors are on the sidelines. After the breakout, it was a clear sign of a buy.
Exxon Mobile is Parabolic The price increase in Crude Oil and energy stocks since March 2020 could be the fastest in history.
Exxon Mobile (XOM) within the prior 20 - months has risen at an angle of 77%.
The most dynamic phase of XOM's 2002 to 2008 bull move occured from July 2003 to March of 2005, the angle was only 67%.
The current powerful advance implies the bull market could continue for at least several months.
XOM is nearing its all-time high of 104.61. If it can move above this top its possible XOM could within one year reach 150.00.
Fall and climbI expect to create a downtrend pattern in the lower time and then the break of the uptrend line and finally the uptrend and break the supply or resistance area.
$XOM RSI Optimizer Signal @KioseffTrading RSI Optimizer being used & is showing a long entry signal at best performing RSI Crossover.
Xom is moving upXom in now in an up trend, let's make sure we don't break 91.64, with the oil prices going up the results will be amazing
XOM possible tradesIf Im going to look for a buy I will wait for price to breakthrough both the major resistance zone and the 4H uptrend channel than make a retest before taking a long trade, and if Im looking for a short trade price might respect both the channel and major resistance and head low.
XOMBy breaking the price to the level of 87.30
It is likely that it will fall to one of the following levels, and the constant reading of energy prices, especially oil, must be taken into account
Here are the levels
77.25
68.62
61.55
higher low on smaller timeframes >.<XOM is so strong compared to the tech stocks right now! congrats to longs here :) lets see if it can bounce now, potential targets are 91.63-95.69-99.74
Exxon has more to give? Exxon Mobile
Short Term - We look to Buy at 81.80 (stop at 79.22)
Preferred trade is to buy on dips. The medium term bias remains bullish. Trading has been mixed and volatile. We are assessed to be in a corrective mode lower.
Our profit targets will be 87.06 and 89.10
Resistance: 90.00 / 100.00 / 110.00
Support: 82.00 / 75.00 / 70.00
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$XOM with a Neutral outlook following its earnings #Stocks The PEAD projected a Neutral outlook for $XOM after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 33.33%.
