XONA trade ideas
XOM possible breakout following double-bottom?XOM ready to reverse its trend and go to new highs following a textbook pattern
XOM ready to go higherCup with Handle. Handle is a falling wedge. You are trading a bullish pattern inside a bullish pattern. On you of that you have triple 4h bullish divergence on MACD on that wedge. And it's super easy to target and manage risk with very tight stop loss around $57.4. Oil is going up and demand will continue to go up this summer and while XOM is usually correlated with oil prices, it has yet to catch up to recent upswings in WTI. I feel like this is a very safe, long term position offering very good technical entry right now and perfect trade setup for a swing trade. Memestocks are pumping this week, but shoft towards commodities and safer bets is a real trend.
XOM trend directionOil price is rising and business works.
Shortage possiblities again in Oil: energy.economictimes.indiatimes.com
Exxon Mobile with a possible short setupExxon mobile set up a double top and broke today the upward trend. MACD shows downside.
A short term - Short Canidate
ExxonDescription: The price is at a significant multiyear resistance/support-level and is forming a cup and handle pattern in the 4h chart which indicates that the market participants are preferring the long scenario
Intermarketanalyses: The fact that we are not only seeing huge spikes in the inflation-data (CPI) which can be explained with the basis-effect but also witnessing wage increases supports the idea that this increase in inflation is not transitory. This makes the idea that we see a further depreciation of the USD more probable. As commodities and the USD are negatively correlated the depreciation of the USD should act as a tailwind for the oil-sector
Entry: 62.30$ (this would end the secondary downtrend of the correction)
Target: ~ 68$
Stop: 58.20$
Stopmanagement: Parabolic SAR 4h chart default settings
Risk/Reward-Ratio: > 1:1
XOM Cup & HandleAs seen in the chart looks like XOM is setting up for a nice run-up based on cup and handle and not breaking support lines. Looking for this to pop next week or two. Also, like how MFI is showing oversold and looks like MACD is starting to converge; possibly setting up for crossover.
stick to the script.almost always trades up on the dividend, then gets dumped. Consolidating here. Buying bottom the channel, if it punches through it, trade is off full stop.
rolling into calls pre dividend date, marking it on my calender like a holiday.
XOM long playXOM looking quite good currently with the cup and handle play. Though, it could reject and begin to consolidate further.
CUP n HANDLE on $XOM daily TFOn the daily time frame we have a bullish cup n handle. Price is sitting on the 9 EMA, so it isn't over extended, if you look at the RSI you'd see we have a bullish divergence forming, the stochastic moving averages aren't crossed or as erect as id like to see yet, but look to be in position to cross. Price closed a top of the cups handle on the daily down trend, which is also the golden pocket zone if you fib it out, for me this will be my entry zone. Ill be looking for an increase in open interest and volume to confirm trend continuation. Price closed within 5% of its daily high, imo this indicates strong bulls in the market. The IV rank is 10.16%, & The Beta is 1.41%, a jolt of IV is all that's needed here. LMK what yall think of my TA feedback is always welcomed.
Confluence of ideas for ExxonThe double bottom path is in green. You can see the measured move would put price at 80. You can also see each impulse leg the last two times have been almost equal. So the next one would put it around 72 along with a median line from a pitchfork. Plus its spring/summer time. Time when everyone goes on vaction and needs gas to get there. time for price to rise.
TrendyTrades: XOM 4HR Demand bounce/Fibonacci levelPull back to 4HR demand that aligns with a fib level at around 59.34 , watch for a bounce. NYSE:XOM
XOM - Daily with Fib Ext and TrendlinesXOM - Daily with Fib Ext and Trendlines
No position as of now. Looking to enter calls after we see another confirmation on the bottom trendline.
5/10 XOMThink I posted XOM last week, and I took profit last Friday on my options (more secured in short-term)
(1) this is a weekly chart one
(2) I see WTI oil will rally up again in mid-to-long timeframe
(3) XOM just finished wave 4, aiming higher to wave 5 (66-72)
(4) TAKE A LOOK IN DAY CHART, it could either go to my target price next week, if not, we will see a good CUP AND HANDLE entry zone again.
(5) IMO, you can also consider uso, gush, oxy and others. oxy vs xom is like all vs dal/luv to me.
Technical analysis update: XOM (8th May 2021)XOM currently shows very high correlation with oil price. This coincides with our bullish outlook for oil prices. Furthermore, technical analysis of RSI and MACD remains bullish. We also see buildup in volume. Because of that we would like to upgrade our short term price target for Exxon Mobil to 65 USD per share. We believe that XOM will break above resistance at 62.55 USD during the next week. We view this as possible catalyst for move up.
Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.
