XOM - end of wave 4?Unless we see NYSE:XOM make a strong move above 105, this looks like the end of wave 4. We would expect a 5th wave to take us below the December low.
XOM trade ideas
Energy Stocks: Macro Fib SchematicsThis idea beholds 6 of the largest Energy companies in the world.
(Shell, Chevron, Exxon, BP, Duke, and OXY Petroleum.)
These macro schematics have been crafted through meticulous Fibonacci techniques.
I've laid every one on a 3 month timeframe starting at 1988. History buffs will understand the time reference to the rough "start" of Middle Eastern conflicts from the West and the rise of the price of "fossil fuels".
I'm not begging anyone to understand this genius mastery of Fib tools. You either see it or you don't.
I've linked my ENERGY COMMODITIES idea below for more analysis.
XOM (Oil)Has bottomed out here at 99 support
20sma has been resistance entire sell off.. long over 102..
105 first target
BEARISH OIL WILL IMPACT EXXONAccording to Tom McClellan, Oil follows Gold with a 18-20 months and so he forecasts a low for May 2024.
Gavekal IS Research has formally uncovered this lag though without issuing a strategic forecast.
The logic is that Gold "stores" the future price of energy
It is very easy to see that a 5 Wave pattern has occurred and is currently being followed by a rectangular ABC pattern. Supports are being broken, suggesting that the 1st Wave of a 5 Wave bearing pattern is unfolding.
The target is below 65, a major support/resistance line
A Gann target would be around 60 or 1/2 of the top at 120
Nat Gas & Oil reversing Lower!Nat Gas saw a decent 4% decline today.
It made a lower high in the trend which leaves it vulnerable.
Oil hitting resistance and turning negative.
EXXON MOBIL: Strong buy at the bottom of a 1 year Rectangle.XOM has been trading inside a Rectangle pattern since the October 11th 2022 low and just last week the 1D RSI got oversold below 30.000. Now the 1D technical outlook is neutral (RSI = 46.595, MACD = -1.790, ADX = 43.208) but that oversold level was the first buy signal as it took place very close to the Rectangle's bottom.
The second and final validation buy signal will be when the stock closes a 1D candle over the LH trendline. Yesterday it crossed over it but closed on it. We will take this opportunity to target the 0.786 Fibonacci level (TP = 115.00) as this was the minimum target that the previous three rallies hit.
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Bullish IdeaThis idea is for a short options swing trade:
* All of energy did well today, not just XOM
* XLE up around 1.02% at present time
* Unusual high volume in the premarket this morning
* This got me to thinking it's being accumulated
* Nothing much happened during the day, but for the power hour there are some nice confluences
* Channel Break, though I would like to see more volume so monitoring some more
* Bullish Inverse H&S pattern
* VWAP suggests buyers are supporting stock
That's pretty much it. This has been in a heavy down trend for quite some time and is finally showing possible signs of reversal. The big question is: Is this accumulation?
Possible Reward: 1.50 — 3.00
XOM longI am bullish on oil and oil-related stocks nowadays. I estimate there will be short-term bullish move on XOM
ExxonMobil LONGExxonMobil has announced its project spending and oil output forecast for the period of 2022-2027. The company plans to spend between $22 billion and $27 billion annually, with a target of producing 3.8 million barrels of oil equivalent per day in 2024. The forecast does not include the gains from the acquisition of Pioneer Natural Resources, which is expected to close next year. The company plans to increase its share buybacks to $20 billion annually through 2025 and continue its ongoing divestment plan for its refining operations. The forecast is watched closely by investors for its spending and production targets.
XOM 3d ChartPublishing the Exxon 3d chart to track this as it heads to an important volume zone.
The entirety of the oil sector has been weak over the last few months and this is likely a guide on the overall market.
If this cannot bounce in the next -3-5% zone (highlighted), I can see this heading towards the 80-90 range in the next few months.
Previous USO idea:
Depending on how oil and oil related stocks move, this could have greater impact on the overall market, keep an eye on XLE and XOP.
Rosneft Stock Is About to Drop Big TimeThis is it. No one want Urals anymore and this is the last days, weeks or months of Rosneft management team. Good luck with golden parachutes.
XOM bottom of rangeThis asset gives a good range to trade currently we are at the bottom within 3% of it sl @ 96$ target top of range 114 with a potential breakout
XOM is likely to hold support and make a bullish reversal.Shares of oil and gas companies gain tracking a rise in oil prices.
But, there is more to support Exxon's reversal.
EXXON is to release additional details about its corporate plans, Including Its Capital Plans to 2027, on December 6th.
Its plans to become one of the world's top producers of the metal used to make electric vehicle (EV) batteries can be a trigger for long term bullish price action.
Short term technical overview also looks optimistic.
Cycle Sniper Daily indicates a potential bullish reversal from an oversold region after the stock holds 100$ - 97$ support.
Technically:
Cycle Sniper Daily indicates a bullish reversal from an oversold region after the stock holds 100$ - 97$ support.
After a daily closing above 107$, our targets are 110$, 113$, 118$, and 126$ until the end of Q1 2024.
Good Luck
XOM (Oil)Price formed a very large falling wedge at demand/support.
Breakout of wedge should happen this week
1st target is 109
2nd target 120.
Similar setup here for the energy sector XLE
Exxon Mobil Shares Rise, Making Three-Day Winning StreakExxon Mobil Corp. (NYSE:XOM) saw its shares climb by 0.39% to close at $104.29, contributing to an overall upbeat day on Wall Street as both the S&P 500 Index (SPX) and the Dow Jones Industrial Average (DJIA) experienced significant gains. The S&P 500 surged by 1.91% while the Dow Jones increased by 1.43%, reflecting a positive sentiment among investors.
The rise in Exxon Mobil's stock price marked the end of a three-day winning streak for the oil and gas giant, which is still trading $16.41 below its year-high of $120.70 reached on September 28th. Despite this, the company's recent performance has been commendable, especially considering the robust advertisement campaign it has been running.
The trading volume for Exxon Mobil on Tuesday was recorded at 18.2 million shares, falling short of its average by 1.7 million. This lighter trading volume did not seem to hinder the stock's upward movement during the session.
Investors are keeping a close eye on Exxon Mobil's performance as it navigates through market fluctuations and continues to engage with its audience through strategic advertising efforts. The company's stock movement is part of a broader trend in the energy sector and reflects ongoing changes in global energy markets.
Insights
Exxon Mobil Corp. is a notable player in the Oil, Gas & Consumable Fuels industry, with a significant market capitalization of $413.29B USD. The company's stock is known for its low price volatility, making it a potentially stable investment option.
$XOM Quick Short - (QT)Howdy Traders!
In this quick trade (QT), we will look at this short on $XOM. It has came down from the previous $104.50 - $104.80 range, and has used it as a resistance. The move for NYSE:XOM is to come down to the previous largely used support level of $100.50. It might bounce up from this level, or it might just fall right through to the $97 level.
Buena Suerte (Good Luck)!
ExxonMobil Fortifies Low Carbon Solutions With $4.9 BillionExxon Mobil Corporation (NYSE:XOM) has completed a $4.9 billion all-stock transaction with Denbury Inc., marking a significant step forward for its Low Carbon Solutions business, according to CEO Darren Woods. The deal, valued at $89.45 per share, involved an exchange of 0.84 ExxonMobil shares for each Denbury share.
The acquisition integrates ExxonMobil's expertise with Denbury’s extensive CO2 pipeline network and workforce, thereby enhancing their low-carbon leadership and capacity to address industrial decarbonization, as well as reducing their own emissions. ExxonMobil now controls the largest CO2 pipeline network in the U.S., spanning over 1,300 miles, including 925 miles across Louisiana, Texas, and Mississippi - the largest U.S. markets for CO2 emissions.
In addition to the pipeline network, the deal incorporated over 15 onshore CO2 storage sites into ExxonMobil's portfolio. These assets are expected to play a significant role in the company's efforts towards reducing CO2 emissions by over 100 million metric tons annually.
The acquisition also includes Gulf Coast and Rocky Mountain oil and gas operations, which provide immediate operating cash flow and offer additional options for carbon capture operations. As of 2022, these operations held over 200 million barrels of proven oil equivalent reserves and were producing approximately 46,000 oil-equivalent barrels daily.
Price Momentum
XOM is trading in the middle of its 52-week range and below its 200-day simple moving average.
Investors are still evaluating the share price, but the stock still appears to have some downward momentum. Posing minimal risk.
Bullish on XOM.
As you can see here, I drew support and resistance levels based on the weekly chart. But on the daily chart, we are forming a double-bottom pattern. I am looking very bullish on XOM. Now, I am waiting for a strong heikin ashi candlestick with no bottom wick and with substantial amount of volume. Thank you for reading my analysis.
EXXON MOBIL: Another choppy month. Rally near Christmas.Exxon Mobil got rejected last Friday on the 1D MA200 and after the 1D MA50 rejection the week before, enters a dangerous territory of LL until it forms the bottom. The long term pattern is a Channel Up, who's rebounds and rejections are accuretelly depicted by the Fibonacci levels. Naturall the 1D timeframe is bearish (RSI = 36.689, MACD = 2.316, ADX = 38.647) and until we see HLows on the 1D RSI, we are not willing to turn bullish long term. We expect the rally to start close to Christmas, aiming at the top of the Channel (TP = 122.00).
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Exxon Mobil (NYSE: XOM) Trading Idea for 30/10/2023Energy company Exxon Mobil Corp. reported profit in Q3 2023 amounting to 9.1 billion USD. It decreased compared to last year's results but still managed to exceed analysts' expectations.
The recovery in energy prices played a significant role in achieving this profit level. The ongoing tensions in the Middle East have, to some extent, positively impacted the issuer's financial results. If the situation in the energy market changes, Exxon Mobil's profits might begin to fall.
Therefore, today, we focus on the Exxon Mobil Corp. (NYSE: XOM) stock chart.
On the D1 timeframe, support has formed at 105.11, with resistance at 116.44. There were attempts to break through support, and a "false" breakout at 105.11 is likely to develop. There are attempts to rebound in the premarket, but they are very weak.
On the H1 timeframe, if there is a rebound from the 105.11 level, there is a chance that the new upward movement will start with the short-term target at 114.55. In the medium term, the target for the price increase can be around 120.52.
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Head and Shoulders on XOMXom has a fairly symmetrical potential head and shoulders that has formed here. With recession fears and war most stocks plummet temporarily. I would have thought the stock would look more bullish with war on the horizon but short term it looks like more downside. This could be because of the record earnings these company had last year, very hard to beat those expectations and revenues have crashed the last several quarters. RSI remains on a downtrend, and 100 day SMA has been lost.
XOM Exxon Mobil Corporation Options Ahead of EarningsIf you haven`t bought XOM when they made "more money than God" here:
or ahead of the previous earnings:
Then analyzing the options chain and the chart patterns of XOM Exxon Mobil Corporation prior to the earnings report this week,
I would consider purchasing the 110usd strike price Calls with
an expiration date of 2023-10-27,
for a premium of approximately $1.43.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
