XOM - Bearish Bearish engulfing, downtrend channel, below daily volume shelf, and H&S breakdown.
Outlook: Bearish - Short below 54.90 and SL: 56 and implied Price Target is 46-47
XOM
$XOM trying to strike oilLong the 10/15 $55 calls.
Exxon respecting the AVWAP from recent lows and 200MA. MACD looks ready to cross.
Barring any market weakness from FED meetings, she looks ready for a move up.
How to benefit from possible Oil upward move?Buying Oil stocks or Leveraged ETFs could be a good choice for the next 1-2 weeks:
1- NYSE:XOM
2- NYSE:CVX
3- OXY
4- NYSE:VLO
5- AMEX:UCO
Elliott Wave View: Rally in Exxon Mobil (XOM) Should Find SellerShort-term Elliott wave view in Exxon Mobil (XOM) suggests that the cycle from June 25, 2021 high is unfolding as a double three Elliott Wave structure. Down from June 25, wave (W) ended at 54.59 and rally in wave (X) ended at 59.33. The stock has broken below wave (W), creating an incomplete bearish sequence from June 25 peak favoring more downside. The break below wave (W) also confirms that wave (Y) lower is in progress.
Internal subdivision of wave (Y) is unfolding as a zigzag in lesser degree. Down from wave (X), wave ((i)) ended at 56.79 and rally in wave ((ii)) ended at 58.50. The stock then extended lower in wave ((iii)) towards 52.10. Expect rally in wave ((iv)) to fail in 3, 7, or 11 swing for further downside in wave ((v)) of A. Then it should correct the entire 5 waves down in larger degree wave B before the decline resumes. Potential target for wave ((iv)) correction is 23.6 – 38.2% Fibonacci retracement of wave ((iii)) at 53.62 – 54.55. Near term, as far as pivot at 59.54 high remains intact, expect rally to fail in 3, 7, or 11 swing for further downside.
$XOM Trading the Channel and Bullish DivergenceOpened a 55C 10/15 3.07 and looking for a move to at least top of the channel.
Bottom of channel AND volume shelf. BULLISH divergence in CMF and A/D indicators signaling a future move up.
Equity levels signaling strong support at $54.58, break below this shelf invalidates the trade.
Exxon Mobile XOM sloppy head and shoulders and down trendDoesn't look good for plastics or oil here. Next to zero on volume and a continued down trend.
XOM - waiting on the calm seeNYSE:XOM
in my opinion we have a time like in 2005 - there was a year of great pump up the index up and right now there will be a year for consolidation.
I have opened two position. Round 42 USD and 60.
I will not sell it very fast. I will wait 2 or 3 years.
XOM is the future of the USA economy so I think that it is a gold duck bearing gold eggs.
I wish you al the best.
Great Entry on XOMXOM has hit its Fibonacci Support while also showing signs that a bullish squeeze may appear. There has been a reduction in selling momentum while the Willy Shows a potential EMA crossover to be had. We have weekly resistance at 62.50 which would be a great point to watch if choosing to go long on this stock. A wise decision may be to wait for bullish momentum and for an ema crossover to officially occur to make sure this isn't a false signal.
Bullish Signals
-Potential EMA crossover
-Squeeze indicator
-Fibonacci Support
Weekly Resistance
-62.50
Bullish on XOMXOM has recently bounced off of its Fibonacci support while the MACD is displaying a potential buy signal as seen by the continuous reductions in selling pressure. I am bullish on the daily time frame for a swing to 64 but as the daily plays out I want to see if the weekly MACD displays any potential buy signals.
Bullish Signals
-MACD (less selling pressure)
-B% is low
-Bounced off of Fibonacci Support
ExxonMobil (XOM) Nice Entry Point on D1 timeframe.ExxonMobil (XOM),D1: Mirror support level + Bollinger bands + Spinning tops + Oversold
🟡 WATCHING $XOM for ENTRY TARGET @ 58.21WATCHING $XOM for ENTRY TARGET @ 58.21
I will repost when it get’s closer if it goes that way and if it makes higher highs I’ll repost with new entry.
Look to the right. ENTRY target in grey. Sell target in green. Double position target in red. That’s it. I’m starting to also add in a few support levels as well.
I’m also thinking about doing the Entry targets on YouTube instead, maybe twice a week… I think the 10 daily charts should be for new positions, targets hit, and adds…
As another request, my view on XOM! 👀As @tomgjuraj requested, I’ll share my view on XOM with you today!
We do have many interesting signs. We have a RSI divergence, and we are above a support area. We don’t see any buy sign, and the 20ma is a resistance, but if XOM breaks it, then we might see a rally.
XOM is pretty oversold in the 4h, and e are above the support. If it break the 20ma in the 30min, it’ll be a good sign. We are outside the BB, and if XOM closes inside it again tomorrow, I think it’ll confirm a rally, maybe to the 63. This is about 5%.
It is worth to watch these points on XOM for now and see how the price will react.
If you liked this trading idea, remember to click on the “Follow” button to get more trading ideas like this, and if you agree with me, click on the “Agree” button 😉.
See you soon,
Melissa.
𝗢&𝗚 𝗨𝗽𝗱𝗮𝘁𝗲: $XOP Weekly. ~99 Resistance HoldingResistance ~99 and 200ema holding. Possible 5-wave structure ended w/ divergence. Peak $CL_F seasonality passed too
$DRIP $GUSH $XOM $CVX $XLE $CL_F $USO $SCO $NG_F $UNG #ElliottWave #CrudeOil #OOTT 🛢️
Long | XOMNYSE:XOM
TP1: 64.80$
Call options, Strike 70$, 07/16/21
*This is my idea and could be wrong 100%
XOM64 was the entry trigger. If XOM can stay above 64, it can move up to 65.5 by the end of the week.
My current position is the 64.5C 6/18. $.46
Black Gold is not doneBlack Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
Recommended portfolio for the next 2 weeks!The ideas behind this portfolio are:
1- Benefiting from possible 6 trillion dollars infrastructure bill.
2- Being properly hedged using commodities.
3- Having exposure to the Tourism industry, apparel, and increased demand for gas in post-pandemic era.
My recommended asset allocation:
50% stock:
25% cash:
25% Gold:
0 Cryptocurrency
NYSE:VALE
NYSE:RIO
NYSE:SCCO
NYSE:CLF
NYSE:X
NYSE:FCX
NASDAQ:ABNB
NYSE:UA
NYSE:XOM
NYSE:AON
Use trailing stop loss..!
Energy breakout ~ June 2021Technical Analysis
We have been in a strong uptrend (pink segment line) since November, which I have divided into 3 ranges.
We have tested the top of "Range 2" 3 times, and we are now breaking out. Either we continue into "Range 3", or we could potentially test the pink trend line once again (ghost feed representation)
Macro
Tomorrow jobs report could be a market moving event, as the Fed has made a drastic change in its action plan, which consists of reacting to data (reports such as these), instead of reacting preemptively as it has done in the past.
XOM Cup and HandleI honestly think these are conservative targets, XOM could touch 70-80s by August.
𝗢&𝗚 𝗨𝗽𝗱𝗮𝘁𝗲: $XOP Weekly. Wave 3The Wave 3 we called for certainly did begin earlier this year and it looks like we're in the last push higher 📈 ... $XLE following
$DRIP $GUSH $XOM $CVX $CL_F $USO $NG_F $UNG $BOIL #Trading #ElliottWave #CrudeOil #OOTT 🛢️
Higher Oil? What's the Best Stock?It appears that Oil is in a wave 4 consolidation with wave 5 coming next. In commodities, the fifth wave is often the longest and most explosive. Short of moving into the futures markets, I'm curious as to what the best stock to play for a move to 100+ in oil.
The chart below indicates that Chevron has best kept up with the price of oil with Exxon/Mobil following behind. Others in the comparison are Apache and Occidental.
Welcoming any and all thoughts on this.
