XONA trade ideas
XOM Old Energy, The Transition to Clean Energy Will Take YearsOil hitting the negatives was a once in a lifetime event in my opinion. We may see it's use go down over the years but when the transition to clean energy begins, it'll take decades for the world to transition. XOM or any other company isn't going anywhere for a very long time.
$XOM NEW setup$XOM has been playing nicelt according to our plan so far, now it has presented us with a new oppourtunity forming a new (POI) zone. If the price retraces back to our zone then we can look forward to go long and out next TP will be around $54 (1st TP). As always SL under the zone but make sure to leave some cushion.
Trade Safe.
Bullish on EXXON (XOM) – Target USD 45.00NYSE:XOM
- Downward trend line from August 2020 broken in October 2020
- On a weekly time frame, positivedivergence RSI/Price
- MACD showing a possible reversal, however still way below 0.00
- Target price at USD 45.00, major area of resistance in April - June 2020
What do you think?
ABC BullishABC and target is D/Possible pull back..
ABC targets are often calculated using the length of the AB leg and fib levels. As a rule, stop goes under C for this pattern or last pivot low..A can not be below B..
XOM looks to be forming a CUP, but I can not find a handle yet. The one I see is below mid cup of 43.28 which would invalidate the pattern..Sometimes the handle low can be practically at cup break out..55.46 right now but this would be an intra-year cup. Long entry, if cup forms, would be 55.56.
Targets 2 are longer term targets..
This one is way down from it's high so may be a struggle going back up plus oil is known to be volatile. Gr8 dividend tho! There are buyers that are stuck up there and feeling financial pain, who will sell on every rally..
The fall from the rising wedge was not too far but almost looks like a make shift handle, it is just not high enough to be a valid handle, but still looks like support may lurk there..
So I stick with ABC bullish for now with a possible cup forming (o:
Yearly high is 69.58. 3 year high is 89.30. 20 year high is 117.20..
Recently overbought on daily RSI set at 80 for overbought level. Has dipped out of overbought territory for now. Looks like a small pull back may be coming for some reason..dunno why i think that...lol ..but there is a wick on top of the last green weekly candle and the last monthly candle and no bottom wick...but not quite an inverted hammer...plus it is not at the bottom of a downtrend in the most recent shorter term uptrend
The inverted hammer is a type of candlestick pattern found after a downtrend and is usually taken to be a trend-reversal signal. The inverted hammer looks like an upside down version of the hammer candlestick pattern, and when it appears in an uptrend is called a shooting star. The Inverted Hammer candlestick formation occurs mainly at the bottom of downtrends and can act as a warning of a potential bullish reversal pattern. What happens on the next day after the Inverted Hammer pattern is what gives traders an idea as to whether or not prices will go higher or lower..
XOM dipped out of it's rising wedge which are often bearish and represent too much buying without healthy pullbacks and a rising wedge can mess with supply and demand. A strong stock may simply take a brief dip under the RW bottom trendline, then resume it's prior trend..
I would wait for a good entry if you like this stock. I have owned it since it was right above C so helps me hold on because I have not had to look at red on a daily basis on my account. That can be psychologically damaging..lol..looking at that loss everyday if we do not get entry right. I am guilty of selling just because I do not like looking at the ongoing loss day after day. Perhaps this is where longer term investors who do not look at their portfolio on a daily basis have an edge (o';
Not a recommendation/just an observation.
Exxon Mobil Corp (XOM)Oil companies have been hit hardest by the drop in oil price in the first quarter of 2020. Since then, oil has been rapidly recovering. Locally, Exxon Mobil has followed the same trend.
Exxon Mobil Corp (XOM) is moving in a large downtrend channel. We are below the middle line of this channel. If we break it, it will reach the upper resistance line.
Best regards EXCAVO
XOM Cup and handle I apologize for the lack luster chart, Im new to publishing and just wanted this idea out there.
4-month long cup, bottom @ $31 , 1-month long handle @$44.50 = PT of $57 (38,2 FR) , $52 would also be a good exit (50% FR)
The usual way to define exit with CH is to find the difference between the bottom of the cup and the start of the handle. In this case its around $14 making our price target around $57 once again.
XOM Ready for the Bullish ImpulseGood morning traders, today we bring you a bullish scenario that we consider interesting in EXXON MOBIL.
🔸From a technical perspective, we can detail that the price bounced off a strong Support Zone.
🔸Then, it broke to the upside the Descending Trendline and continued its upward movement, with a marked uptrend.
🔸We see that the price began to consolidate in a corrective structure, and, if we take the upside movement that happened in the past, both corrections occurred in the same price range.
🔸A couple of days ago there was a very strong candle to the upside, which confirmed the breakout of the structure.
🔸As the previous resolution was a strong move towards the resistance zone, we expect the same behavior in the current situation.
EXXON MOBILE Wednesday, 6 January 2021
11:10 AM (WIB)
EXXON has a great possibility of rising higher in this new year 2021, following the Oil Industries that shows significantly to rise.
It already broke the descending channel and starting to rise from now on.
Best regards,
RyodaBrainless
"Live to Ride and Ride to Live"