$XOM: Strong uptrend
Updated
Nice setup here in 
XOM, new 52 week highs on higher than average volume with a Timemode trend signal confirmation this week. Monthly and yearly trends are up, overall oil stocks could continue being the best prospect with a potential rebound in inflation figures coming next, Russia 'cutting' production (likely forced to do so by the effect of crippling sanctions) and China reopening boosting aviation fuel demand, while the economy possibly dodges a recession, and business investment goes back to pre-pandemic trend levels, among other factors. The latest State of the Union speech has likely contributed to weakness in US Treasury bonds, and coupled with NFP might have triggered rotation back into value/energy from growth names ahead of CPI data.
All in all, low risk to follow this development and be positioned in value stocks and particularly energy for the coming months (and likely years).
Best of luck!
Cheers,
Ivan Labrie.
XOM, new 52 week highs on higher than average volume with a Timemode trend signal confirmation this week. Monthly and yearly trends are up, overall oil stocks could continue being the best prospect with a potential rebound in inflation figures coming next, Russia 'cutting' production (likely forced to do so by the effect of crippling sanctions) and China reopening boosting aviation fuel demand, while the economy possibly dodges a recession, and business investment goes back to pre-pandemic trend levels, among other factors. The latest State of the Union speech has likely contributed to weakness in US Treasury bonds, and coupled with NFP might have triggered rotation back into value/energy from growth names ahead of CPI data.All in all, low risk to follow this development and be positioned in value stocks and particularly energy for the coming months (and likely years).
Best of luck!
Cheers,
Ivan Labrie.
Trade closed manually
Rather exit to be safe.
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