XONA trade ideas
EXXON MOBIL LONG|ECONOMIC RECOVERY BET|
XOM is an oil major, and the stock fell from 70$ to 30$ as a result of the corona-crisis
That brought economic recession and a decrease in both demand and price of oil
Later, XOM established a double bottom after retesting the lows of the pandemic
And now it is surging.
I think that buying XOM is a bet on the economic recovery
Which will happen eventually
The target of 65-67$ is very realistic
As this is the minimum of what the company should be worth without outperforming
I would say, that 65$ is the price which will be achieved by just getting the demand for oil back to normal
Without any further increase in oil prices. (As there is plenty of ready to go supply, so the new demand will be covered easily and so the oil price will remain stable as the oil companies revenue will grow!
Therefore, Long XOM.
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xom just bottomed....Double bottom wicks and a monthly bullish divergence..... time to start stacking the cards until otherwise.
XOM - Now it get's interesting!Welcome back to another update on Exxon Mobil. NYSE:XOM
Most oil stocks showed impressive movement in the last week, a very long correction seems to come to an end.
Currently we are still more than 60% away from the ATH and Exxon Mobil is still very cheap to buy.
The 35% growth that we saw since the bottom of big wave 2 is very likely the first impulse of a 1-5 structure.
Primary scenario:
We are forming a solid 1-2 setup and will correct at least to 37$-35$.
From there we will start the wave 3, which will bring us to prices above 50$ or even more.
Alternative scenario:
My alternative scenario will get triggered if we break the previous high of wave 1 @42.07$
The bulls will push Exxon Mobil directly to prices above 50$ and we won't see another correcting in the upcoming days.
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XOM Possible Buy SetupXOM has a confirmed bottom TD9 count, and taged the Fibonacci Retracement point of 1.272. Friday also had a bullish confirmation candle confirming the hammer reversal candle the prior day.
XOM: CLASSIC B-WAVE TRICKERYBE CAREFUL OF B-WAVE DECEPTION. LONG AFETR C-WAVE of WAVE-2 COMPLETES PULLBACK
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$XOM with a neutral outlook following its earning releaseThe PEAD projected a neutral outlook for $XOM after a Negative over reaction following its earning release placing the stock in Drift C
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XOMPrice indicates Uptrend has started
1. Price broke the downtrend line making
Higher lows and higher highs
2. 40 is the key area if it holds then we can price moving higher to 46 area
3. If the price breaks 40 we might see the price going back to the 35 area - in that case,
we might have a chance to close our sell position
Exxon Mobil VS WTIA longterm review of Exxon mobil ratio on Crude Oil
it seems an upward trend in crude oil which can drive xom to high targets u see on chart
$XOM $wti
Don't forget our EX-Big Boss - Looking to longXOM was badly beaten due to Covid-19 and when they got removed from the index.
However with positive Covid-19 Vaccine, XOM big market Cap player shall not be forget.
A stable support seem to be form at the price of $30-$32.
Long playout -
Long after breakout
Long when pullback close to $34
SL @ $30 to prevent from whipsaw.
