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SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETFSPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETFSPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF

SPDR S&P OIL & GAS EXPLORATION & PRODUCTION ETF

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XOP trade ideas

Oil/Oil Service Cyclical Bottom? Dow Dog ready to bark back.XOP has been in a Bear Market for a little over a year now due to recession fears, trade wars, and over production by frackers. When you look at the XOP chart we see what appears to be a bottoming picture developing. The massive trend line that has kept price going lower for some time is now in play. OPEC cut backs and post year end window dressing conclusion I believe may lead to a break out in the XOP fueling even stronger gains in the 3x GUSH. 3 mos. plus we may see a double for the XOP from these over sold levels (imho).
AMEX:XOPLong
by JaySteele
XOP - DAILY CHARTXOP - SPDR S&P Oil & Gas Exploration & Production ETF The ETFs seems poised to be affected by the recent news regarding the Oil output, that it's increasing due to the latest report from Iran that discovered a new oil field with over 50 billion barrels, plus the announcement from OPEC + that isn't going to cut its Oil output for now. Working in favor of the asset we have for now only the perspective of increase of revenue on this quarter due the Winter season, but this its a weak argument compared to the current geopolitical context.
AMEX:XOP
by Igor-Silva
XOP Forms a Potential Bear TrapThe Oil and Gas Exploration and Production industry has been hammered. I typically have no interest in weak sectors...until there's a potential bear trap which sets up a major bullish opportunity. That setup could be underway now. A few weeks ago XOP broke below the 2016 low, consolidated, and has since jumped back above the 2016 low. This was on massive volume. Volume has been escalating, and in July and August, it looks like the bulls threw in the towel as the price went below the 2016 low. This has been followed by even larger volume to the upside this week. A nice shift from fearful and excessive supply to hungry demand. The profit target is a relatively conservative estimate from this oversold condition. But of course, we'll have to see. This a medium-term trade, and will likely take 9 to 18 months to unfold. Disclosure: Likely initiating a long this week.
AMEX:XOPLong
by CoryMitchell-CMT