$XOM should continue the down trend AT LEAST until Wave 5 is completely devolved. Note: Wave 1 seems to be the extended wave, so wave 5 should be equal to wave 3. Disclaimer: This is a personal trade, not a trade advice.
- It is very important the the price back above $11 soon before it considered a trading range the bounds between $11 to $17. - A break out of the range then lead the price to the $35 target.
- It might take one to two years to complete this movement. - The reason I analyze neutral gas is to give hedge and industrial managers a hint or at least my personal view on the commodity. - This also might gives us a hint about the oil prices and companies that are affected by them.
- The stock is establishing a short term trading range. - Break out of this range might be followed by gaps or shape move to the fist two targets. - The third target is nor the highest the the stock can go for, but for now this is what I can see. - Fundamentally the company new online Ads creating method will reflect a major revenue in the financial statement.
- I don't see a good risk-reward rate here, but here is the stock direction I see. - Longer higher directional movement might be seen after meeting the target and trading in a trading for a good time above the round.
- Although, the stock shows a short target for the midterm, it might revers direction very quickly after meeting the short target and make an incredible long movement. - Down movement might be very sharp after the breakout and meet the target very quickly.
- The stock has been trading in a trading range for a good. - A break out of the range might be followed by a gap. - Longer and higher than the second target at $21.5 might be added later after the breakout.