XOM $107 Price TargetReally love how we’ve held this $105 level on XOM. I’m hoping to play calls from one of these supply zones that I anticipate becoming demand around $105 and $105.75 and riding upside.
4h on left, 15m on right.
XOM trade ideas
Elliott Wave Impulse Decline in XOM Suggests Further DownsideShort term Elliott Wave view in Exxon Mobil (ticker: NYSE:XOM ) suggests that the decline from 4.28.2023 high took the form of a 5 waves impulse. Down from 4.28.2023 high, wave (1) ended at 115.64 and rally in wave (2) ended at 117.30. The stock resumes lower again afterwards. Down from wave (2), wave 1 ended at 114.45 and rally in wave 2 ended at 115.22. Stock resumes lower again in wave 3 towards 109.29 and wave 4 rally ended at 111.39. Final leg wave 5 ended at 108.15 which ended wave (3). Stock then rallies higher in wave (4) towards 109.81 and then extends lower in wave (5) towards 105.5. This completed wave ((A)) in higher degree.
Wave ((B)) is currently in progress to correct cycle from 4.28.2023 high. Internal subdivision of wave ((B)) is unfolding as a double three Elliott Wave structure. Up from wave ((A)), wave A ended at 109 and dips in wave B ended at 105.80. Wave C higher ended at 110.97 which completed wave (W). Pullback in wave (X) ended at 108.1 and the stock has resumed higher again. Potential target higher for wave (Y) is 100% – 161.8% Fibonacci extension of wave (W) which comes at 113.5 – 116.8. Near term, as far as pivot at 119.9 high stays intact, expect rally to fail in 3, 7, 11 swing for further downside.
XOM to ~$122.25There are worse bets to make than XOM to ~$122.25. It has passed a few significant external peaks and is on it's way through the last peak from Feb.
If it manages this $122.25 could be in the cards. A swift pass through $122.25 would make the probability of $131.26 higher as well.
XOM: DowntrendOn XOM as you see on the chart we have the breakout of support line and vwap so it's mean that we will have a big probability to have a downtrend.Thanks!
$XOM: Uptrend signal in the daily and weeklyExxon🛢️ has nice upside here according to Time@Mode which makes me think it could beat expectations and shoot up and trend steadily for some time.
The company reports earnings this Friday, and is expected to post a $2.606 profit per share, and $85.648 billion dollars of revenue.
Valuation highlights:
Price to Book ratio of 2.46
Price to Free cash flow ratio of 10.80
EPS growth of 32.60% for the past 5 years
LT Debt to Equity of 0.21
P/E ratio of 8.74
Price to sales ratio of 1.18 times sales
Both weekly and daily trends are bullish and suggest price can hit the following targets by the following dates (or sooner):
🎯123.70 to 132.17 by May 11th 2023
🎯134.52 to 164.04 by July 21st 2023
Best of luck!
Cheers,
Ivan Labrie.
XOM: Buy ideaOn XOM as you see on the chart we have a buy idea after the breakout of vwap and resistance.Thanks!
XOM ATH Watch?As Crude Oil continues to run, we could see NYSE:XOM test all time highs again. NYSE:XOM has continued to consolidate above the gap in the bull flag shown from last week. $CL_F is setting up for a balanced week, and may fill a gap to the downside. We can look to play NYSE:XOM for options plays. As NYSE:XOM had yet another balanced week, our price targets are unchanged. NYSE:XOM reports earnings on Friday morning before market open.
Technical Analysis:
NYSE:XOM has been respecting an uptrend channel, and is currently in a bull flag consolidating above a gap. The bullflag has been a consolidation zone, where we can play calls off dips below the 114.65 weekly level, and puts under the 116.95 daily level.
If NYSE:XOM can break out above the bull flag, we can see it test all time highs as 119.63. We should keep an eye on the uptrend resistance of this channel (pink). The bull flag measured move could send it as high as 133.29. Using fib extensions, we could see price targets at 121.12, 123.71, 125.97, 127.41, and 129.19.
If NYSE:XOM invalidates the bull flag, we can fill the gap below to 110, where a confirmed breakdown below could send us down to a long GP at 105.00.
Upside Targets: 116.95 → 117.78 → 119.63 → 121.12 → 123.71 Extended Targets: 125.97 → 127.41 → 129.19
Downside Targets: 114.66 → 114.00 → 113.12 → 112.10 → 110.17 Extended Targets: 109.58 → 107.90 → 105.00
Exxon Mobil (XOM) Looking to End 5 Waves Elliott Wave ImpulseExxon Mobil (XOM) cycle from 3.20.2023 low is in progress as a 5 waves impulse Elliott Wave structure. Up from 3.20.2023 low, wave (1) ended at 107.35 and pullback in wave 2 ended at 100.68 as the 1 hour chart below shows. Up from there, wave 1 ended at 110.17 and wave 2 ended at 109.05. Wave 3 ended at 114.64, wave 4 ended at 112.20. Final wave 5 ended at 116.85 which completed wave (3) in higher degree.
Wave (4) pullback took the form of a zigzag Elliott Wave structure. Down from wave (3), wave A ended at 114.17, and wave B ended at 117.18. Wave C lower ended at 113.6 which completed wave (4). Wave (5) is in progress as a 5 waves diagonal structure. Up from wave (4), wave 1 ended at 116.59 and pullback in wave 2 ended at 114.16. Wave 3 ended at 117.56 and dips in wave 4 ended at 115.50. Near term, expect XOM to extend higher to complete wave 5 of (5) of ((1)) before cycle from 3.20.2023 low ends and the stock see a larger degree pullback. As far as pivot at 100.68 low stays intact, expect the stock to extend the final leg higher before ending cycle from 3.20.2023 low.
XOM: $117 Price Target?XOM has been ranging for a few weeks now, Getting back towards the HKEX:114 lows and it looks like that we have taken some liquidity and tested demand. Ideally, I'd grab a position from this demand zone but we will see what tomorrow brings us. Definitely wouldn't fight that HKEX:117 top and should be used as a target or potential short.
Using Warren Buffett and Peter Lynch Valuation formulas : XOM XOM Valuation : Present Value of Future Earnings
Using my formulas from Peter Lynch and Warren Buffett to analyze the business behind a stock.
Imagine owning all of a company, not just a slice. Would you just look at dojis? or Would earnings and cash flow matter more?
how do you measure future earnings and compare to todays prices. What the return in the future if prices fluctuate in the now.
These are the questions Im trying to answer using my valuation worksheet.
Let me know what you think.
XOM to $114 or below?Trying to redeem myself from earlier this week and being wrong on XOM. Currently have supply right around $116.85 but we did close a candle above the high signifying a potential upside move. However, it looks we are taking sell side liqiduity in this supply zone and should have enough momentum to take us down to $114 and possibly the low at $113.
Start of formation of potential bull flag on XOMThis is a chart I am watching with high interest. I use XOM quite often as a hedge to my tech heavy portfolio. Between gold and XOM calls I can utilize these calls as hedges to the overall SPY and NASDAQ.
XOM $118+ Price TargetWith this pennant structure forming and demand under $116, I think we get a pullback into the demand zone sometime tomorrow upcoming days to push us to $118+.
$XOM wedge break out, looks like it wants this bear gap on daily$XOM wedge break out, looks like it wants the bear gap on the daily
If we can close the gap at the $107.78 PL we can extend to the $109 PL otherwise we double top and retest the $106.8 PL
Short on Exxon Mobil. XOMHere we have a running or expanded flap developing, and as usual, looking to profit on the final le
XOM- BULLISH SCENARIOExxon Mobil is one of the world’s largest and most successful companies. Its operations alone produce more income than the GDP of various small countries.
The company has a pipeline of key projects in the Permian – the most prolific basin in the United States – and offshore Guyana. In the Permian, ExxonMobil has an inventory of more than 8,000 well locations, with the integrated energy major estimating a net of 10 billion oil-equivalent barrels of recoverable resources. In offshore Guyana, it made several discoveries that XOM estimated at more than 10 billion oil-equivalent barrels of recoverable resource.
In the long term, the price is expected to continue the uptrend in the price channel with a price target of $ 124.
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Exxon (XOM) ... Be on Alert Grasshopper Last Friday Exxon (XOM) achieved an all-time high.
This was on the back of their latest full year earnings, which handily beat analysts estimates.
If recession fears continue to dominate and actually result in a economic downturn, XOM may become an institutional sell candidate
Consider:
1) shares are at the top of an ascending channel in place since June 2020.
2) XOM's price has nearly tripled in the same period.
3) 2 Bearish Harmonic patterns are currently in place. ( marked on the chart)
4) XLE peaked in June 2022 and is on its 3rd attempt to challenge this level
5) If there is an broad based economic slowdown this may be an early victim.
Note: Q1 earnings are expected in late April.. a quarter which is usually softer.
XOM announced up to $35B in shared buybacks.
Bottom Line: Don't short XOM here but be vigilant for a price reversal particularly in a softer broad markets,
In a world were Petro and dollar flows are unstable, share price going forward could be quite volatile especially since it is fully priced IMHO.
If there is a well defined break, I have marked potential target levels.
As usual ... DYODD
Good Luck
I will update as needed.
S.
XOM SHORTI will want to see Tuesday close to open a short position on XOM as it can not claim upper levels in my opinion XOM could fall to test 100s
Straight to the point: XOM within the next 3 monthsUPDATE: It just hit the bottom of the trend line, which means that I expect it to keep on going upwards.
There is a pattern that I am noticing. It tends to hit the bottom during mid-fall and peaks at mid-to-late June (possibly due to people dropping their positions after dividend pay out). The runs usually lasts for around 250 days. Purely based on this pattern, the uptrend will keep on going. If the price were to fall below 97, I'd be concerned. So far, it still seems to have some steam to expend. RSI hit 30 on daily chart. MACD will most likely show a reversal at any given moment. Price hit the 200MA and bounced right back up.
I see this hitting 137 by the end of June before heading back down to 115-120 area.
