Three macro levels to a speculative buyThree possible supports on Exxon at COVID-19 lows, wait price acceptance at each level.
XOM trade ideas
XOM - Walk the plankThe american oil industry is on the verge of collapse, at least when we look at Exxon Mobil ... NYSE:XOM
I have great interest in the american oil industry companies such as Exxon Mobil or Chevron, both have made enormous losses since Covid-19 hit the world.
Both Stocks are extremely cheap right now and are possibly setting up for a +100% rallye , at least if we don't break the previous lows.
In the last days i spent several hours looking at the chart and price action of Exxon Mobil , i came to the conclusion that we have formed a very big 1-2 Setup.
Primary scenario: Likelyhood 55%
We are forming a solid 1-2 setup and are setting us up for a 30% rallye to the price target of green wave 1.
Alternative scenario: Likelyhood 45%
My alternative scenario will get triggered if we break the previous low @32.21$, Exxon Mobil will get slaughtered again.
A drop of 15%-20% is very likely and will crush many bullish expectations.
Beware that i don't have any open long positions, i will wait for a solid bullish impulse and then announce my entries!
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If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact me.
LONG XOMExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
Exxon (XOM)XOM back to where it was in 1997. I always hear people say I own XOM because its a "good company" or because it pays a good "dividend". I'll pass, I'd rather put my money where it makes money.
Double BottomPossible stop below 32.15
Possible T2 64.2 to 73
Price is close to long entry level but there is not a confirmed uptrend/Both have to be in place for this pattern to be valid
Not a recommendation
XOM long1st time longing oil stocks, looks like a nice knife catching opportunity as I inticipated oil to bounce of critical support.
Working well so far, will hold most of position until TP2 as long as oil moves higher.
$XOM keeps falling but it can be long chance targeting 60 SL 30Oversold indicators - underperform broad market and almost near March lows . need to be watched carefully as it can be good long opportunity if entered near 30s with long term target at 60 or (100%) . if break down 30 then possible to visit 20 or even 15 so the main condition is to hold above 30 which will form huge double bottoms pattern for long term bullish view and on other side if break down 30 will have deep crap targeting 50% discount.. its quite interesting that big company with good earning is falling like XOM but soon will know the reason behind. good luck
Exxon double bottom reversaldouble bottoms look similar to a W shape, and this one does. the first time price has failed to break the support level at 30.00 which is the first circle. thus if the second price fails to break support again at 30.00 the second time. then the market will possibly shift to an uptrend.
Note: Price does not necessarily have to respect the support level at 30.00 to consider it as a double bottom it may go to 28 or so and still be a double bottom. make sure to analyse yourself, that's important.
does anyone agree with my outlook? feel free to share ideas.
XOM Long, at Demand Zone High quality Fresh Demand Zone ;
RSI Divergence
Entry 33
Stop 30
Target 41; reward:risk=2.5:1
Target 46; reward:risk=4:1
10/30/2020 Earning. Normally, one day before earning, IV will be higher.
I will try option strategy according to earning.
See detailed steps in Trade Active section.
I am not a PRO trader. I need few months to practice trading strategies.
If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate.
$XOM Strong buy at $30 With SPX 2850if the spx can hit 2850 which it can xom should be around 30/31 and a great buy - not advice
EXXON Mobil Corporation is bullish!!!I see some bullish signals on daily and 4h chart for EXXON Mobil Corporation.
Here is my trading plan for Exxon:
There is a gap around 35 so first of all, i expect this gap to be filled then i will aim 36.23 and 36.50.
Stop loss:33.70.
Have a nice day,
Berk.
XOM HASNT BEEN AT THESE LEVELS SINCE 20022002 was the first spiderman movie. I cant figure out the wave pattern (complex correction of sorts) for this chart but, at 31 - 32 levels I am def a BUYER. low risk, high reward.
XOM still bearish, needs to find bottom/consolidateNo clear direction on XOM, still downward moves. Technicals also not looking the best, negative divergence could signify that it still has room to drop. Copyright Rohan Karunaratne 2020
VALUE_BULLISH BUTTERFLYThe X-B is off a little, should be at .786. It's @ .764. But it's a monthly over 10 years.
I don't think this has a chance of playing out with unless their business model changes, but over another 10 years, maybe.
LONG XOMExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
