XONA trade ideas
LongIdeally I would like to see the price pulling back towards the trend line before entering ! The move is quite extended and would expect a pull back ! Anyway it is a great stock with a nice dividend if you have to sit on it ! As I believe that oil will probably go back to the $100 in the next few weeks or months, I would expect Exxon to keep doing well!
$XOM hot commodity!$XOM has been one of the hot commodity for the past the few months. gas prices keeps surging up and up due to various reasons.
for now, oil started to cool down after hitting the ATH and continues trend lower below ema line for the past few days
for momentum move. although its started to pulls back, there's a possibilities that it might bounce back up due to war conflict
between the two countries Ukraine and Russia. once the war is officially started the oil might start move again due to possible high demand.
overall, the market is still very bearish and specially the tech market. please trade cautiously.
Day trade or scalp target play: 02/22/22
Buy call above 76.90 sell at 78.90
Buy puts below 76.10 sell at 75.31
Hello everyone,
welcome to this free technical analysis . ( mostly momentum play )
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Exxon ~ XOMExxon let's watch for a short with a LIS at 81.
This one has lots of resistance around 80.
Channel UpSteep channel up with trendline broken.
XOM has gotten some mileage out of the cup and handle and the inverse head and shoulders underneath it. There was also a descending triangle that broke to the upside before the channel up formed.
I usually keep a few shares so I can keep an eye on it.
Most of oil, for example, FANG and EOG, have rising wedges under price, or a pattern that looks to be setting up for a pull back.
The price of oil has not moved down significantly that I know of, so I suppose it is just time for a pull back.
Maybe there is news I do not know about, like this country is planning to produce more oil again or something? I do not think we are using less oil than we did last year so I doubt shutting down most oil production in the US helped improve our air quality or climate change etc. It seems we just buy our oil from other countries versus producing as much here? )o:
Let me know if you know and news on oil, but a steep climb up like this is bound to pull back eventually.
The moving averages are still in tact.
No recommendation.
“The difference between playing the stock market and the horses is that o
Ticker: XOM - 2/14/22 - 4 Hour Ticker: XOM - 2/14/22 - 4 Hour
🟢 Safe Entry Confirmation: 80.21 Break, retest and hold of structure with momentum
🟡 Scalp Target:80.32, 80.50
🔴 Daytrade Target: 80.60
🟣 Swing Target:80.80
💀STOP LOSS/Trigger for puts: 80.00
📝 IDEAL CONTRACTS:
RISKY DAYTRADE: 82 XOM 02/18 (Mental SL)
MEDIUM RISK SWING: 80 XOM 02/25 (30% SL)
GAMBLE: 85 XOM 02/18 SQ P 1/14 (SIZE FOR 0)
💡Notes: Falling wedge hold above the 50 moving average (red). Volume at the bottom is increasing bar after bar. Liquidity secured from downside + BOS. Looking for continuation if price can hold 80.21 with sos (signs of strength). Puts break through 80 with momentum to grey key levels.
XOM- USO oil overdone!The oil trade has the masses crowding the same trades banks and energy up 26% in 5 weeks. Considering the economic data, the start of a bear market, slowing economy, possible rate hikes and the shift to EV oil got way ahead of itself and I would expect a 12-15% correction in the coming weeks. Some would look at this chart and call a breakout, I think an 8 year high in oil going into a slowing economy is reminiscent of 2008 when oil hit $151 intraday was a blowoff top, the same time Goldman Sachs was pounding the table predicting $250 a barrel oil, within a couple months later oil hit $35. I think as usual the crowd is wrong here and I am usually a contrarian on everything! BTW, Feb 9th is XOM ex-dividend date so likely the stock will remain artificially elevated until then. GL
xom buyxom buy .. follow the uptrend channel buy above the resistance level at 80.68 .. finally target 86.39
Exxon Mobil Corporation, close to distribution priceExxon Mobil Corporation, stylized as ExxonMobil, is an American multinational oil and gas corporation headquartered in Irving, Texas
Exxon may Challenge It's All-Time HighXO may challenge it's
all-time high of 104.76.
First Target 88.78
Gotta give credit where do...
Parker Scott did call the
March 2020 Low.
"Hey man, nice shot".(by Filter)
XOM UpdateSo I ended up closing out most of my long position today (the option portion, I'm now official, again, a XOM HODLer. Is that what its called these days?
Wow. This was much faster than I expected. I didn't think we would hit 83 until end of February, but wanted to give myself till March. I am still holding a small long position (2 contracts). It's small because its technically violating my rules. When my price target is hit, I exit. No questions. But XOM has been really preforming well and I anticipate great things in the future so I have no problem holding. I anticipate XOM testing the top of the April Supply Zone, then seeing a bit of a pull back. XOM is really overbought as these shorts are all crying about. However, the dangerous thing is, the more overbought it is and, the less pull back is needed to stabilize the RSI. For this reason, and because historically XOM's pull backs from overbought are around 5% I wouldn't advise shorting. But I also wouldn't advise jumping in long for a hold position at this point. My price target was 83 and we even exceeded that slightly today.
I anticipate once we touch the top of that supply zone, we will get a retest back to the top of the bull flag for a roughly 5% pull back. This would be enough to stabilize RSI and let XOM continue to increase in price. Realistically price target could be around 79.50. However, if we break above that supply zone, we could see pull back in the 80$ range. I actually hope to get to the 79.50 area because I would definitely re-enter long.
I haven't updated my regression modelling of XOM to give more of an indepth analysis. To be honest, I don't see the need. The fundamentals are there. The sentiment is there. Its performing well and holding its own. Chart patterns are okay. I don't want to over-complicate a good thing! The only concern is RSI but seeing how SPY and QQQ essentially ran in the overbought zone for the whole year of 2021 on the weekly and monthly charts, Meh. Whatever.
Best of luck and happy trades!
XOM 3-2-2 continuation? XOM had a beautiful Friday. The rev strat setup was lovely and it pushed immediately. Energy has been doing well, so I think it's still on watch. Possible corrective activity, or just a continuous push. If you can catch the bounce, trade it back into FTFC. Can play this both ways or just watch for the move.
$XOM update $XOM update
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
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( •_•)
/ >🚀
——————
I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
I have a huge tolerance for volatility so please know that. If you’re new to my trade setups please try them on a small scale first. Then go in with a risk you’re comfortable with.
I am not a bull. I am not a bear. I just see what I see in the charts and I don’t pay too much attention to the noise in the news.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can. (If I have time)
And most importantly… Have fun, y’all!!
(\_/)
( •_•)
/ >🚀
Hi Bull Flag, how are you? I honestly have never seen a more pronounced bull flag on a daily chart.
Going to go long tomorrow, March 25th expiry contracts + add shares back into my holdings (not a day trade, just an investment).
Projected conservative highs for March are around 83.
If we continue to see the bullish momentum, highs exceeding 83 are to be expected.
Analysts are giving this a 95$ to over 100$ range and investors are listening.
My projections are based on my own analysis though :).
Best of luck!
XOM Shorting Opportunity?Hello Everyone. I wanted to give you guys and girls a heads up on XOM. I'll Like to share what I'm seeing. Lets start with the euphoric sentiment around the energy sector. As you may know there's a lot of bulls right now calling for oil to keep going up and along with it, energy stocks. When I hear euphoric chatter around a sector or a particular stock, I like to do the opposite of what people are saying. In other words when there are too many bulls, red flags and bells should be going off in your head. With that being said. Here are my thoughts on XOM: 1) The sentiment is too bullish, 2) A lot of good news coming out lately i.e stock buy back announcement recently, which gets the bulls more euphoric and 3) The technicals are pointing to a significant reversal very soon. I illustrated above 2 factors that gives me high confidence of being right. 1) The near completion of wave 5 of the 1st leg imo. Yes I believe XOM will go MUCH higher long term but 1st a major pull back and with this pull back many of the bullish sentiment will be CRUSHED and that will be an opportunity to go long XOM again. And the final factor is a bearish Butterfly harmonic pattern which it happens to align with the final wave 5 of leg of 1. With that being said, Please keep in mind I'm only sharing what I'm doing, I'm not a financial advisor and I'm not telling you what to do. Good luck everyone!
$XOM Short - OverboughtXOM looks over extended and approaching heavy resistance after ER pop.
I like the short setup here with MARCH 80 puts opened today, looking for some retracement / pullback expected to cool off the RSI. This isn't a long term idea, just to profit off the expected profit taking that's expected after such a strong move to the upside.
First target is $77.5
ForecastNotes:
Anticipating an earnings surprise.
About XOM:
"Exxon Mobil Corp. engages in the exploration, development, and distribution of oil, gas, and petroleum products. It operates through the following segments: Upstream, Downstream and Chemical. The Upstream segment produces crude oil and natural gas. The Downstream segment manufactures and trades petroleum products. The Chemical segment offers petrochemicals. The company was founded by John D. Rockefeller in 1882 and is headquartered in Irving, TX."
xom ideasmomentum play but also understanding the supply chain in gas/oil is an issue plus Russia/Ukraine issue may also affect this
XOM: The only stock worth swinging in 2022? Hey swingers ;),
I am not going to lie. This market has been tough for swing traders and stressful for intraday traders to say the least.
The big names like SPY and DIA have been really dramatically bipolar.
There is a diamond in the rough though and IMO that is XOM.
As expected, XOM managed to breakout yesterday and today from its 2019 supply zone (see my previous ideas on XOM).
Now we are heading to another supply zone from April 2019.
Will we bounce off it? Maybe. My concerns about XOM are:
1. The RSI is quite overbought on the Daily Chart and on the 1 hour chart
2. XOM has been aggressively bullish in a bear market. It has surpassed my modelled projected highs, even when I adjust the model to review only the most recent data. (For example, today, my projected high based on 1.5 years of data was 78.39, this is where I was aiming to take profits, my adjusted high based on approx 1.5 months of data was 79, it surpassed both of them and doesn't show signs of slowing. While this is generally a good thing in my books, if I aim for the highs, knowing that it will likely outperform, that's a good thing, right? Not really, because it means that the model is close to being rejected and that signified a change in sentiment. The sentiment seems to be in the bullish direction, but I really hate when sentiment changes and I have to rework another model with backtesting, etc. and generally leads me to holding off trading for a week until I have enough data to correct and test).
So what's next for XOM?
If you're not in a position with XOM (an intraday position or swing position), I would suggest waiting to see how XOM treats this new supply zone. It is not unreasonable to anticipate a bounce off it, back down to the previous supply zone. I would long biased though. Its extremely bullish for the past 3 months and to go short is just fighting a well accepted trend and I don't advise.
The outlook for XOM on linear regression analysis is positive, both in the short term and long term, on both the 1.5 years of data and the 1.5 months of data.
To put it in perspective, my models of SPY and IWM are negative short term and positive long term on the 1.5 year, negative short term, negative long term on the adjusted data (long term means within the next 1-2 months).
XOM is the only stock that I actively track with a positive outlook across the board and has most consistency.
My plan:
I want to see retracement back to my take profit zone or the July supply zone and re-enter long.
Calls for patience :).
DISCLAIMER:
Not financial advice. Not a financial advisor. Just an ex-epidemiologist who enjoys mathematical modeling.
At the end of the day, I trade price action. I use regression analysis to plan my entries and exits and chart support and resistance levels (I find it more accurate than looking at the chart). However, its not always correct and I am sometimes wrong.
Manage your risk! Its okay to be wrong, and you will be wrong, just manage your risk and you will live to see another day. Its not the end of the world :).
My linear regression models are done in SPSS. I can't share pictures, but am happy to answer your questions.
EXXON Weekly Technical AnalysisXOM Weekly - EDUCATIONAL only - Support, Resistance, Parallel Chanels, Horizontal Channel, Trend Lines , Clusters, Fibonacci - Hope it Helps, Good Luck
Will XOM Break out? XOM made for a predictable Short play today.
XOM Retested that 2019 supply zone and was again rejected. It respected support at around 74 looks to be heading back up to re-test 2019 again.
The two potential outcomes I see based on the chart are:
1. Retest of 2019 resistance followed by bounce back to that 74 support, followed by a bounce back up and potentially beyond (shown in teal colour).
2. Retest of 2019 resistance followed back potential bounce back to that 8 year support line (purple).
Of course there are also other outcomes, however I am leaning to one of the previous two options.
Linear Regression modelling shows the following (Based on January data):
Potential Highs tomorrow: 76.22 (SD=3.4).
Probability of reaching a high of /= 76.22 is 8%.
Potential Lows Tomorrow: 74.50 (SD=3.3)
Probability of reaching a low of /= 74.50 is 7%. (Meaning the probability that the stock remains above 74.50 tomorrow nd doesn't go lower is 7%).
What I am watching for:
Bounce of 74.37 to the upset for a long play.
Rejection of 76 for a short play (Was my play today).
DISCLAIMER:
Not financial advice.
