When Spdr S&p Oil & Gas Exploration ($XOP) Moves Investors should Listen
November 09, 2023, 09:45 am ET, BY Jeff W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for XOP
- Buy XOP slightly over 124.15 target 137.78 stop loss @ 123.79 Details
The technical summary data tells us to buy XOP near 124.15 with an upside target of 137.78. This data also tells us to set a stop loss @ 123.79 to protect against excessive loss in case the stock begins to move against the trade. 124.15 is the first level of support below 137.74 , and by rule, any test of support is a buy signal. In this case, support 124.15 would be being tested, so a buy signal would exist.
- Short XOP slightly under 137.78, target 124.15, stop loss @ 138.18 Details
The technical summary data is suggesting a short of XOP as it gets near 137.78 with a downside target of 124.15. We should have a stop loss in place at 138.18though. 137.78 is the first level of resistance above 137.74, and by rule, any test of resistance is a short signal. In this case, if resistance 137.78 is being tested, so a short signal would exist.
Swing Trading Plans for XOP
- Buy XOP slightly over 137.78, target 142.49, Stop Loss @ 137.38 Details
If 137.78 begins to break higher, the technical summary data tells us to buy XOP just slightly over 137.78, with an upside target of 142.49. The data also tells us to set a stop loss @ 137.38 in case the stock turns against the trade. 137.78 is the first level of resistance above 137.74, and by rule, any break above resistance is a buy signal. In this case, 137.78, 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 137.78, target 124.15, Stop Loss @ 138.18. Details
The technical summary data is suggesting a short of XOP if it tests 137.78 with a downside target of 124.15. We should have a stop loss in place at 138.18 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, 137.78, 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 137.78, target 139.77, Stop Loss @ 137.46 Details
If 137.78 begins to break higher, the technical summary data tells us to buy XOP just slightly over 137.78, with an upside target of 139.77. The data also tells us to set a stop loss @ 137.46 in case the stock turns against the trade. 137.78 is the first level of resistance above 137.74, and by rule, any break above resistance is a buy signal. In this case, 137.78, 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 137.78, target 136.73, Stop Loss @ 138.1. Details
The technical summary data is suggesting a short of XOP if it tests 137.78 with a downside target of 136.73. We should have a stop loss in place at 138.1 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, 137.78, 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.
Check the time stamp on this data. Updated AI-Generated Signals for Spdr S&p Oil & Gas Exploration (XOP) available here: XOP.
XOP Ratings for November 09:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Weak |
Neutral |
Neutral |
| P1 |
0 |
0 |
124.15 |
| P2 |
136.73 |
137.78 |
137.78 |
| P3 |
139.77 |
142.49 |
151.58 |
AI Generated Signals for XOP
Blue = Current Price
Red= Resistance
Green = Support
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How do we know what is going on #behindthescenes of a company? According to Stock Traders Daily, a 20-year #financialindustry innovator, the best way to do this to to watch the price action in the stock. The Spdr S&p Oil & Gas Exploration (NYSE: XOP) report below is a real world example. Included are trading plans for XOP, but this report is static. If you want an update, or a different stock, please get one here Unlimited Real Time Reports.
Fundamental Charts for XOP:
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