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EXXON MOBIL CORPORATION

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XOM trade ideas

ExxonMobil: Technical Indicators Signal Potential TurnaroundAs ExxonMobil (XOM) stands at a critical juncture, investors are scrutinizing its technical indicators and recent price action to predict the next move in this energy giant’s stock. Let's delve into a comprehensive technical analysis to uncover potential trading strategies, price targets, and key points for executing positions. ExxonMobil's recent price of $109.38 shows a modest uptick, indicating a potential pause in the bearish trend observed over the past few weeks. The volume of 17.76M is slightly above the 30-day average of 16.39M, suggesting a growing interest from traders possibly due to recent news impacting oil prices and energy stocks. The daily candlestick shows a small green body with a higher high and higher low compared to the previous session, which can be interpreted as a bullish signal. This pattern indicates potential buying pressure at the current price level, which might be fueled by broader market sentiment or sector-specific developments. The overall trend, observed over the last six months, highlights a significant retracement from the highs near $120.00, touching lows close to $108.00 recently. This downtrend could be attributed to fluctuating oil prices and macroeconomic factors impacting the energy sector. The stock is trading below key moving averages (10, 20, 30, 50, and 200-day), all indicating a bearish sentiment. The Exponential Moving Averages (EMAs) for these periods are signaling a "Sell." Notably, the Simple Moving Average (SMA) for the 200-day at $109.36 is very close to the current price, suggesting a critical support level. Breaking below this could signal further declines, while holding above may attract buyers. Relative Strength Index (RSI): At 35.72, the RSI is approaching the oversold territory. This typically suggests that the stock might be undervalued at current levels, providing a potential buy signal. MACD: The MACD histogram shows a bearish divergence, with the MACD line at -1.95 below the signal line. However, the gap is narrowing, indicating potential for a bullish crossover in the near future. Stochastic Oscillator: With a %K value at 6.89, it signals a "Buy" as it is deeply oversold. This reinforces the idea that a rebound might be imminent. Key Support and Resistance Levels Based on the Pivot Points analysis: The immediate support is observed at $109.57 (Fibonacci S2) and $108.80 (current low). Resistance Levels: On the upside, significant resistance is at $116.65 (Pivot Point) and $120.50 (Classic R1). A break above $113.95 (S1) could set the stage for a retest of these higher levels. Recent news around ExxonMobil highlights its strategic maneuvers in renewable energy investments and responses to fluctuating crude oil prices. Positive developments or announcements can spur short-term bullish momentum, whereas any setbacks in global energy markets could add downward pressure. Given the mixed signals from various indicators, a cautious approach is warranted: Long Position: Entry Point: Consider entering a long position if the price breaks above $113.95 with strong volume, confirming a reversal from current lows. Price Target: Aim for a price target around $120.50, aligning with the Classic R1 resistance level. Stop Loss: Set a stop loss just below the recent low at $108.50 to mitigate downside risk. Short Position: Entry Point: If the price fails to hold above the 200-day SMA at $109.36 and breaks below $108.00, consider shorting. Price Target: Target a decline to the next support level around $102.49 (Classic S3). Stop Loss: A stop loss around $113.00 would limit losses in case of a false breakdown. Conclusion ExxonMobil’s stock is at a pivotal moment where technical analysis provides valuable insights into potential market moves. The combination of oversold conditions, critical support levels, and evolving news makes XOM a compelling watch for both bullish and bearish traders.
NYSE:XOM
by AxiomEx
Exxon Mobile (XOM): Awaiting Long Term Entry at $65Our group has recently revisited Exxon Mobil Corporation (XOM), and while there hasn't been much change, it's worth reassessing. The stock has entered the zone between 100% and 138%, which we identify as the level for Wave A and has respected this level. Long-Term Outlook: We anticipate a significant downward movement over the long term, potentially reaching the $65 level. This is where we plan to make substantial long-term purchases. The range between $65.50 and $64.40 has been consistently respected, reinforcing our strategy to wait for these levels before entering the market heavily. Short-Term Outlook: In the short term, Exxon has been trading within a range for nearly a year and a half. It briefly broke below this range to complete the larger Wave (A)and then broke above it to finish the sub-wave A. We are now entering a potential Wave B zone. Current Strategy: - Long-Term: We are waiting for the price to drop to the $65 range before making significant purchases. - Short-Term: We are monitoring the $104 to $100 zone, which looks attractive for a potential reversal. However, given the risk, we are not placing any entries yet and will wait to observe the market's reaction.
NYSE:XOMLong
by freeguy_by_wmc
Exxon continues the Energy forever bull marketExxonMobil Corporation (/ˌɛksɒnˈmoʊbəl/ EKS-on-MOH-bəl; commonly shortened to Exxon ) is an American multinational oil and gas corporation and the largest direct descendant of John D. Rockefeller's Standard Oil. The company, which took its present name in 1999 per the merger of Exxon and Mobil, is vertically integrated across the entire oil and gas industry, and within it is also a chemicals division which produces plastic, synthetic rubber, and other chemical products. ExxonMobil is headquartered near the Houston suburb of Spring, Texas, though officially incorporated in the U.S. state of New Jersey. : 1  It is the largest United States-based oil and gas producing company. ExxonMobil is also the eighth largest company in the world by revenue and the third largest in the US.
NYSE:XOMLong
by noam_chom
1
Exxon Challenges Short-Term ResistanceExxon Mobil rallied in March and early April. Now, after a pullback, some traders may expect further upside. The first pattern on today’s chart is the falling trendline along last month’s highs. The energy giant closed above it on Friday, which could be considered a potential breakout. Second, the low on May 3 occurred near a 50 percent retracement of the preceding advance. Does that confirm the movement of travel is to the upside? Third, the 50-day simple moving average (SMA) had a “golden cross” above the 200-day SMA in early April. That may suggest its longer-term trend is getting bullish. Fourth, the 8-day exponential moving average (EMA) is back above the 21-day EMA. MACD could also be attempting a positive cross. Those signals may suggest the short-term trend is getting more bullish. The fundamental backdrop could additionally be more favorable as China looks to support its real-estate market. Crude-oil inventories were also tighter than expected last week. TradeStation has, for decades, advanced the trading industry, providing access to stocks, options and futures. See our Overview for more. Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at www.TradeStation.com . Before trading any asset class, customers must read the relevant risk disclosure statements on www.TradeStation.com . System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors. Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges. TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit www.TradeStation.com for further important information explaining what this means.
NYSE:XOM
by TradeStation
2
Guyana Takes Exxon to CourtGuyana's tax agency is taking Exxon Mobil Corp. ( NYSE:XOM ) to court after one of the company's suppliers claimed it mistakenly inflated the value of oil-well equipment by 200 times to about $12 billion. The Guyana Revenue Authority issued a summons to the oil giant, with a hearing scheduled for May 10. Exxon and Trinidad-based Trinidad-based company Ramps Logistics claimed the overvaluation stemmed from a clerical error that denoted the sum in US dollars instead of Guyanese dollars. A Guyana dollar is worth about one-half of a US cent. Exxon ( NYSE:XOM ) country manager Alistair Routledge said the error was "caught early" and no one suffered any loss. The company has updated its procedures to prevent repeating the error. Under Guyana's production sharing contract with Exxon, the government only receives its share of production after costs are deducted. Exxon ( NYSE:XOM ) recently approved its sixth development which will help double its production capacity to 1.3 million barrels a day by 2027. The company has agreed to comply with the audit.
NYSE:XOMShort
by DEXWireNews
Exxon ($XOM) Stock Falls on Q1 Earnings ReportsExxon Mobil ( NYSE:XOM ) and Chevron ( NYSE:CVX ) stocks fall on first-quarter earnings Reports. The first quarter of 2024 has brought forth a flurry of developments, shedding light on the complex dynamics shaping the future of these energy behemoths. Earnings Woes Amidst Market Headwinds Both Exxon ( NYSE:XOM ) and Chevron reported disappointing first-quarter earnings, attributing the downturn to lower refining margins and natural gas prices. Exxon's earnings per share fell by 27%, while Chevron experienced a 17% decline, reflecting broader challenges faced by the energy sector amidst fluctuating market conditions. Despite efforts to bolster profitability, including increased production and strategic acquisitions, the supermajors have encountered headwinds that have dampened investor sentiment. Guyana: The Prize and the Pitfall At the heart of the supermajors' strategic maneuvers lies the oil-rich territory of Guyana, heralded as a potential game-changer in the global energy landscape. Exxon's prolific operations in Guyana have yielded substantial production gains, providing a glimmer of hope amidst broader market challenges. However, Chevron's attempt to enter the fray through its acquisition of Hess has sparked a bitter dispute, with Exxon asserting its right of first refusal and threatening to derail Chevron's ambitions. As arbitration proceedings loom, the fate of Guyana's coveted resources hangs in the balance, underscoring the high stakes and fierce competition characterizing the energy industry's quest for dominance. Navigating Uncertain Terrain Against a backdrop of geopolitical tensions and fluctuating oil prices, Exxon ( NYSE:XOM ) and Chevron face a myriad of challenges as they chart their course forward. While geopolitical risks in the Middle East and evolving demand dynamics pose ongoing challenges, the supermajors remain resilient, buoyed by their strategic assets and global footprint. Despite short-term headwinds, long-term projections indicate continued demand for fossil fuels, offering a glimmer of optimism amidst market uncertainty. Stock Performance and Future Prospects Amidst market turbulence, Exxon's ( NYSE:XOM ) stock performance has been reflective of broader industry challenges. Exxon ( NYSE:XOM ) has rebounded modestly from lows remaining committed to capitalizing on growth opportunities and enhancing shareholder value through strategic initiatives and prudent investments. As they navigate the complexities of the energy landscape, Exxon ( NYSE:XOM ) and Chevron stand poised to weather the storm and emerge stronger, reaffirming their status as industry stalwarts. Conclusion: Navigating the Energy Transition The first quarter of 2024 has brought forth a confluence of challenges and opportunities for Exxon ( NYSE:XOM ) and Chevron, underscoring the resilience and adaptability required to thrive in today's dynamic energy environment. As they confront earnings declines and strategic disputes, the supermajors remain steadfast in their pursuit of sustainable growth and operational excellence. With Guyana's resources hanging in the balance and global energy dynamics in flux, Exxon ( NYSE:XOM ) and Chevron are at a pivotal juncture in their journey toward securing their position as leaders in the evolving energy landscape.
NYSE:XOM
by DEXWireNews
1
Exxon Mobil Corporation Technical Analysis and OutlookAs of the latest close, Exxon Mobil Corporation (NYSE: XOM) exhibited a commendable performance, with its stock price anchoring at $119.72 and showing a slight uptick in after-hours trading to $120.29. A review of the recent price trajectory reveals a consistent bullish pattern, sustained by a robust upward momentum that bodes well for the prospective investor. Key Technical Indicators: Ichimoku Clouds: The price is trading above the Ichimoku cloud, indicating a bullish trend. The cloud's span is widening, which typically suggests strengthening momentum. Moving Averages: The stock is currently well above its key exponential moving averages (EMAs) — 20, 50, 100, and 200-day lines. The 20-day EMA acting as dynamic support suggests the near-term trend remains decidedly positive. Relative Strength Index (RSI): The RSI is hovering just below the overbought threshold of 80, marking high enthusiasm among buyers. Yet, investors should be cautious about potential retracement from these levels. Moving Average Convergence Divergence (MACD): The MACD line is above the signal line and trending upward, reinforcing the bullish sentiment. Notably, the histogram reflects growing buying pressure. On-Balance Volume (OBV): A steady incline in the OBV underpins the upward price movement, indicating volume is confirming the trend. Technical Patterns: Bullish Engulfing Candlestick: The latest candle forms a bullish engulfing pattern, suggesting buyers are overtaking sellers and a continuation of the uptrend may ensue. Support and Resistance: Immediate support is identified at the $115 mark, while resistance looms near the $122 zone. A breach above resistance could clear the path towards higher valuations. Market Sentiment and News Integration: The positive adjustment in earnings forecasts by Zacks Research, now pegging Q2 earnings at $2.40 per share, indicates a stronger financial underpinning that could propel further price appreciation. The upgrade, although modest, may bolster investor confidence and act as a catalyst for continued upward movement. Moreover, the company's unyielding dividend policy is a testament to its financial health and commitment to shareholder returns, potentially attracting dividend-seeking investors and adding to the buying pressure. Outlook and Speculative Price Target: Integrating the fundamental news with our technical standpoint, the landscape for Exxon Mobil is optimistic, with analysts exhibiting a "Moderate Buy" consensus. With the most bullish analyst projecting a price target of $150.00, it suggests a considerable upside potential. Bearing in mind the technical strength and analyst sentiment, we could posit a speculative price target of $135 in the medium term, contingent on market stability and the continuation of the current trend. Investor Considerations: While the technical indicators and analyst optimism warrant a bullish outlook, investors must stay vigilant for signs of trend exhaustion or reversal. The pursuit of lower-emission energy solutions showcases Exxon Mobil's adaptability, but regulatory shifts and the pivot to renewable energy sources present variables that could affect future performance. In conclusion, Exxon Mobil Corporation appears poised to continue its ascent, bolstered by strong technicals, favorable analyst revisions, and a sound dividend policy. As always, investors should maintain a balanced perspective, aligning their strategies with market dynamics and broader economic indicators.
NYSE:XOM
by AxiomEx