$XOM short ideaXOM displaying a head & shoulders on the daily and has been showing relative weakness the last two weeks. Neckline is here at $84 with downside targets of 81, 78 and 74.
OptionsSwing Analyst
Daniel Betancourt
XOM trade ideas
XOM - KC - 29062022Analysis
* Seeing a lot of consolidation patters before
* Obvious S&R lines to refer
* Market just dive after opening
* Assumed that it will make the same consolidation patterns
Plan
* Expiry = 9 days
* Hold = 1 day max
* Strategy = Naked Put
* E = 89.30
* TP = 88.12
* SL = 90.39 (wanted to reduce risk)
Journal
* TP = 87.72 (Changed plan because high volume before market closed)
* P/L = 53
* Trade according to plan = Not quite
Are energies done? XOM$XOM seems to be creating head and shoulders pattern. Imo the move for energies has been done, at least for a while. The previous support now acts like a resistance, and it failed to hold above 91.20 yesterday. I would be careful as it might be a change of trend and also could be wave 3 out of 5 on the way down. Still LT trend is bullish. We shall see if the 100MA will keep the price from falling lower.
Exxon Pulled Back. Now It’s BouncingEnergy, energy, energy: It’s been the manta of 2022, so let’s take a look at Exxon Mobil.
Earlier this month, the oil-and-gas giant hit triple digits for the first time in almost eight years. As noted at the time , prices were extended and a pulled back sharply. And now they’re bouncing.
The main pattern on this chart is the falling trendline along the highs during the slide. XOM closed above that resistance Monday and continued its rebound yesterday.
Next you have $89.49, a high in April 2019. It offered resistance again in February, but turned into support in May. Interestingly, this was almost exactly the stock’s bottom last week.
Third, prices rose after testing the 100-day simple moving average (SMA) for the first time since December. That may indicate the longer-term uptrend remains in effect.
Finally, notice how stochastics are turning up after hitting the most oversold condition since last August.
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Week 3 assignment (EXHIBIT A) for XOM by PROSHERIFFA Variation of Bullish Engulfing Pattern has been spotted on 1 hour chart. Take profit level is previous Lower High.
XOM ShortShort Entry: 90.81 as XOM Stalled and reversed after making a wedging rally into the peak of a potential right shoulder and also into the 50 day moving avg.
Stop: 93.30
Risk: 2.49 (2.75%)
Objective: 85.75
Reward: 5.06 (5.28%) 2
Exxxxxon telephoneYeah, this is looking an ABC as of now. can turn into a bigger WXY, but that means simply a better entry for us. Bring it on!
$XOM Analysis, Key levels & Targets$XOM Analysis, Key levels & Targets
By request… and thank you because I will play this one… Some of you know that I'm originally an energy sector trader... don't enter this trade unless you know the riskes... and have fun...
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I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed.
GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
XOMOne the one hour 50EMA about to cross the 200EMA June 24th expiration on the options should pay out. Strikes sell set ATM and a tight buy to the sell, for a call credit spread. RSI is going stagnate at neutral levels. Under the cloud still bearish on the one hour, bc Jun24 expirations only need to look at the 1hr.
"Done for the day wife hope it works out"
-KewlKat
XOM - 50MA from support to resistance50 MA which acted as a previous strong support might now become a resistance. I'd be careful with energy stocks in the near term.
XOMGoing into next week we could see this push back to 100$. If this fails to break above 88 we will keep the downtrend to 70$
XOM Back to tunnelNYSE:XOM
Energy Sector get weak, CCI at top, Volume increasing.
TP at Fibs Points.
ExxonMobil Shooting Star PatternThe weekly candles for the oil and gas company, ExxonMobil, look quite bearish. This could be the start of a major decline. There is a shooting star pattern forming on the weekly chart, while the oscillators are trending down and while the daily EMA exp ribbon and daily trend lines breaking down. Although anything can happen, it is looking like a major bearish reversal is occurring. It's sad that just last week all the "expert analysts" at CNBC were making strong bullish calls about energy stocks, citing "free cash flow" and numerous other reasons to buy them, all the while the charts are showing a topping pattern in energy and commodities. This is usually when tops form - when there is no bearish sentiment among anyone, and when strong hands are selling to weak hands. At least charts do not lie, and thanks to @TradingView anyone can access them alongside a plethora of crowd-sourced scripts and indicators.
Exxonmobil perfect harmonicT1: 40
T2: 46
Despite the bad news and the chaos , despite the dump on US oil... the chart is telling us the light at the end of tunnel 💡
Divergence in the weekly and daily chart, smart money is accumulating
XOM - failed breakout - short XOM failed to break to ATH's. Everyone who can be is already long surely. Short it back down towards the trend line. Fairly tight stop above the attempt at new highs this week.
XOM Bull ExperimentMarket corrections are like x-rays. They allow you to see truly strong assets which were previously hidden by speculative bullish chaos. At a glance, the setup in XOM looks scary, but you need to trust the wisdom of the market. The trend is your friend, and the trend is up. Look around and ask yourself, who is benefitting the most from the current economic environment? Sometimes the right thing to do is the scary thing to do. Ride it until it starts showing signs of weakness. I have no target, but will monitor this over time and provide updates if I feel it's time to jump out.
XOM, Cup and Handle Break out ! Long above 92.05 !XOM is beautifully formed a classic cup and handle pattern.
So far, we have break out , pull back and only remaining point to safe entry is a bullish candle above 92.05.
First target which was obtained by adding the depth of cup ( shown as H on the chart ) to the break out line is 104-105 USD.
Please note the crude oil trend is also up therefore , it is reasonable for energy stocks to go up.
In terms of Elliott waves, XOM may see much higher prices especially in long terms . I will publish my broader view for the stock later and propose my wave count and related long term targets ( s.th close to 200 USD !! ). For now, I just tried to keep it as simple as possible.
Wish you nice profits.
$100+ price target by September '22NYSE:XOM
Classic 5 wave pattern forming beginning in about Nov. 2020
Oil and Natural Gas supply disruptions will keep pushing price levels higher if demand doesn't wane
+
Overall Inflation will continue to drive equities prices higher unless the Fed tightens at a faster rate than anticipated
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The seasonal gas transition will likely compound price inflation during the summer months of 2022
_______________________________________________________________________________________
$100+ price target by September '22
Disclaimer:
I am not an investment professional and nothing on this page constitutes advice
XOM - Blow Off UTAD ?XOM appears to be entering the blow off top phase of this enormous rally since 2020 lows.
1:1 fib extensions taken from the low and the thrust candles give targets of $109 and $112, however using 1.13 overshoot ratios could see XOM get as high as $124.
If it did get there it would touch the upper trendline of this long expanding pattern from 2008 of which appears to be itself a very long Wyckoff distribution pattern which would eventually see XOM return to much lower price along with USOIL.
Worth noting that the 2020 low was the first time XOM has fallen below the 200 month MA. Prior to that all price action had been corrective to the upside since 2008 top.
Down the road I very much expect XOM to touch the lower trendline and there is also an enormous gap at $32 that may fill at some point. This may provide a good entry to buy.
That said if this is a very long breakdown pattern and if XOM did top around somewhere between here and $124 then a 1.618 extension from the 3 significant pivots since 2008 would see XOM return to around $16-19.
Put IV is very low and a trade could benefit well from IV expansion.
Not advice.
Exxon - might be too late to jump on this trendThis is just a good talking point. Exxon could possibly move towards the 120$-150$ range here shortly. I'm not betting on it but let me also point out that this would be a first time ever for Exxon. I've been watch since they dipped to 35$ two years ago. If you did jump on the dip then you missed the Exxon train to make it rain.
XOM Great Company Bad Chart - Short With Cheap Leap Puts @ $100Title says it all short ONLY at the ROUND NUMBER $100 if it can reach there with ATM LEAP PUTS. Not Advice do your own DD
Missed opportunityA clear breakout occurred weeks back, but as we all know we are currently at the beginning of a bearish market or in the middle of it thus most traders or investors have been on the sidelines for the past couple of weeks and some bullish investors are on the sidelines. After the breakout, it was a clear sign of a buy.
