$XOM Exxon Mobil. Overhead resistanceAfter a terrific month $XOM has hit a multi year resistance line. Maybe time to take some profit ??
XOM trade ideas
XOM looks peaked already when adjusted for dividendsSince 2014 the market has been selling off XOM whenever it reaches above $70 when adjusted for dividends, this has happened six times already. Could it happen again in the next few weeks?
Some more bearish reasons for a sell off:
-Chart shows a breakout of a bearish wedge which can turn out to be a blow off top.
-Every bag holder of XOM since before the covid crash can now cash out at break even.
-You can see on the daily chart that it usually sells off here just before earnings and the div date hit.
-With Electric Vehicles becoming hotter and hotter, it doesn't make sense that XOM would be as valuable as it was in 2014 and their down trending revenue since then show this: www.macrotrends.net
-Wall street has been pumping this stock and other value stocks harder than XOM can pump oil.
-Related UCO also looks almost topped to me, see this chart:
If I wanted in XOM, I would at least wait until it falls back down to $60, where under normal market conditions has had strong support.
One bullish possibility is a trend change. I would only consider the trend has changed if XOM holds above $70 for a few weeks as the moving averages catch up though.
My opinion is this whole movement is over extended and to be very careful! I don't like seeing us retail getting scammed by wall street.
Major Intersection of trends for XOMXOM has a multi year resistance line that it quickly has been approaching. This resistance line depicted in red has held strong since 2014 and Exxon has attempted to break above this resistance line several times since and has failed each time. What makes this retest different? Momentum and demand makes this retest different, In fact the move on the MACD has been extreme and much stronger than previous momentum swings depicted on XOM's MACD. This coupled with a red hot crude/commodities market tells me that this time will be different when XOM grinds up closer to the multi-year resistance trend line I expect a bullish breakout and a price target of 77, and then a move up to 87.55 within a few years.
EXXO - ideaAfter confirmation entry.
If you follow my trading strategy you should follow these rules:
1. Money management: never ever risk more than 2% of your account on every single trade! (Never risk any more than you can afford to lose)
2. Always use a stop loss order.
3. Always make your own analysis before you follow my strategy.
4. Follow Rule 1!
5. Remember Rule 4!
XOM - Watch Exxon Mobil closely!Dear subscribers, lets come together to discuss another major oil company. NYSE:XOM
As we described in our last update "CVX - Major reversal ahead?" the situation in major us oil stocks is very exciting.
Some time has passed since the collapse (february 2020) of the oil price and the massive drops in companies like Chevron or Exxon Mobil .
In the past year those stocks as well as the oil price have rallied tremendously and Exxon Mobil could rise nearly 130% since it's bottom.
Like in Chevron we have spotted a very important chart formation in the Exxon Mobil, a so-called "Rising Wedge", which marks a major trend reversal according to the Elliot Wave Theory.
From the image shown on the left, you can see the 1-2-3-4-5 movement and the following correction in wave II.
The only minor inconvience is, that Exxon Mobil's chart structure isn't as flawless as Chevron but the situation is clearly the same.
We now have reason to believe that Exxon Mobil is in the last breaths of its rally and is on the verge of a massive price collapse.
In that case, wave II could set us back to prices in the $88 to even $67 range.
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XOM Long PUT Play? 60 days out.Thoughts on Long Term PUT -60 days?
Reasons:
XOM did the same thing last year at this time. Huge jump in price action
3 gaps created on the daily
Extended away from the 8 ema
Last year it jumped 10 bucks before pulling back. If I look at the liner regression that is really close to being a 10 dollar move from top to bottom right now.
XOM - one of the top energy stocks for the next few yearsHoly cow... ExxonMobil is on a roll!
The stock price has been continuously rising (with a few intermittent dips) from a long term standpoint since the March 2020 crash...I think that's likely due to the company's higher amount of transparency in regards to its peers. I'm specifically referring to its 2030 promise of Net-Zero Permian emissions, its continued investment into algae biofuels when competitors like Chevron NYSE:CVX gave up, and its open support of the Paris agreement despite any ulterior motives Darren Woods and co. may have. I also credit, to a lesser degree, the view that ExxonMobil may be the greenest descendant of Rockefeller's Standard Oil because of Engine No. 1's victory and the continued growth and impact of the new Coalition United for a Responsible Exxon (CURE), as well as how the public may not necessarily have the best view of Chevron due to the Steven Donziger incidents.
ExxonMobil' dividend being higher than Chevron, BP NYSE:BP , ConocoPhillips NYSE:COP , and Royal Dutch Shell BCBA:RDS on a percentage basis also gives me confidence. I fear that regulations from the governments in their respective countries will likely hamper the progress of PetroChina NYSE:PTR , BP and Shell. The only other oil company that may have better dividends than ExxonMobil and also is an established American company is Sunoco NYSE:SUN , but I am not seeing too much potential with them, although I will reconsider my position.
Overall, ExxonMobil is likely the top major energy stock for the next few years and the one making the most developments; I won't be surprised if ExxonMobil becomes big enough for another large oil merger, especially if "Chexxon" becomes a thing.
Energy stocks for high inflation era..!it seems Energy stocks are ready to finish their correction and started a new rally!
Keep them in your portfolio during high inflation times!
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
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Close your eyes and buy: XOMAt the start of the year with EV on everyone's lips I wanted to be contrarian. What is the sector that is MOST HATED in the market? Energy... specifically "dirty" energy. NYSE:XOM at the very start of the year was trading below Book Value. Through all of these price shocks to oil and a bearish energy market they have not ceased or cut their dividends. Even now at this price it still offers an above 7% yield. Unfortunately, I hesitated as now this week the bullish case seems to be known by all with new analyst upgrades coming out. I hate to do it but I started my long term position today. I'll add to my full allocation on (hopefully) pullbacks but sometimes you just have to buy the highs to get in.
Looking for a rally in Oil stocksThe market looks to be recovery today and the most interesting stocks to me were oil companies ( NYSE:XOM , NYSE:MRO , NYSE:COP ) which all exhibited morning open volatility spikes. The one I liked the most because it was at at 50% Retracement (see high timeframe below) is XOM so it fits my criteria for a long trade.
I'll be looking for a retest of the last major highs.
This is also an addon positions to a winner from the beginning of 2021 (see Related Idea).
XOM ISIN -US30231G1022 CUSIP 30231G102EXXONMOBIL is NYSE, with the common stock ownership of MECCA EXPRESS INC, holding the superseding schedule ! to date. OWNED by Garry Anthony WRight JR, yet this company is only owed by way of supporting financial baccking, by preforming fthe action for the SILVER & GOLD. Which was calculated by CME GROUP INC
XOM US30231G1022 30231G102
XOM resistance playXOM is testing a major resistance, and by the looks of premarket, we are pulling back slightly. My thoughts are a pullback before a break out over resistance. Look for resistance to act as support before making a trade. I'll be looking at calls if this happens. I likely won't be playing puts on this.
Xom Trade Opportunity There are several ways to play this, calls to play the breakout of the channel and stop loss would be under the trend line on the 3 month or puts for the rejection of the top of the channel and enter after the trend line on the 3 month breaks. Stop loss would be 65 or over the top of the channel
Go to the moonThe paper starts its upward movement, the fundamentals are good. A large buyback usually increases the value of the stock, oil is holding at a good level. Targets are marked on the chart. If resistance levels are broken through. Long-term trade.
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