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Spdr S&p Oil & Gas Exploration $XOP Trading Report

Longer Term Trading Plans for XOP
  • Buy XOP slightly over 126.91 target 139.42 stop loss @ 126.54 Details
  • The technical summary data tells us to buy XOP near 126.91 with an upside target of 139.42. This data also tells us to set a stop loss @ 126.54 to protect against excessive loss in case the stock begins to move against the trade. 126.91 is the first level of support below 128.72 , and by rule, any test of support is a buy signal. In this case, support 126.91 is being tested, a buy signal would exist.

  • Short XOP slightly under 139.42, target 126.91, stop loss @ 139.82 Details
  • The technical summary data is suggesting a short of XOP as it gets near 139.42 with a downside target of 126.91. We should have a stop loss in place at 139.82though. 139.42 is the first level of resistance above 128.72, and by rule, any test of resistance is a short signal. In this case, if resistance 139.42 is being tested, a short signal would exist.

Swing Trading Plans for XOP
  • Buy XOP slightly over 130.14, target 139.42, Stop Loss @ 129.76 Details
  • If 130.14 begins to break higher, the technical summary data tells us to buy XOP just slightly over 130.14, with an upside target of 139.42. The data also tells us to set a stop loss @ 129.76 in case the stock turns against the trade. 130.14 is the first level of resistance above 128.72, and by rule, any break above resistance is a buy signal. In this case, 130.14, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short XOP slightly near 130.14, target 126.91, Stop Loss @ 130.52. Details
  • The technical summary data is suggesting a short of XOP if it tests 130.14 with a downside target of 126.91. We should have a stop loss in place at 130.52 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 130.14, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for XOP
  • Buy XOP slightly over 130.14, target 139.42, Stop Loss @ 129.84 Details
  • If 130.14 begins to break higher, the technical summary data tells us to buy XOP just slightly over 130.14, with an upside target of 139.42. The data also tells us to set a stop loss @ 129.84 in case the stock turns against the trade. 130.14 is the first level of resistance above 128.72, and by rule, any break above resistance is a buy signal. In this case, 130.14, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

  • Short XOP slightly near 130.14, target 128.48, Stop Loss @ 130.44. Details
  • The technical summary data is suggesting a short of XOP if it tests 130.14 with a downside target of 128.48. We should have a stop loss in place at 130.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 130.14, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Real Time Updates are available on our Spdr S&p Oil & Gas Exploration (XOP) Page here: XOP.

XOP Ratings for July 08:

Term →Near Mid Long
Rating Strong Neutral Neutral
P1 0 0 114.36
P2 124.62 125.49 126.91
P3 128.48 130.14 139.42
Triggers may have already come
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Support and Resistance Plot Chart for XOP

XOP Long Term Analysis for July 8 2023

Blue = Current Price
Red= Resistance
Green = Support

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Trading or Investing in Spdr S&p Oil & Gas Exploration (NYSE: XOP) involves an observation of the technicals, every time.  This data reveals the current technicals.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for XOP change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

Subscribers also receive market analysis, stock correlation tools, macroeconomic observations, timing tools, and protection from market crashes using Evitar Corte.  

Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if XOP is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for XOP too.  All of these are offered below the Summary Table.