When the Price of (XOP) Talks, People Listen

January 27, 2024, 10:00 am ET, BY Bill- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for XOP

• Buy XOP slightly over 131.8 target 142.88 stop loss @ 131.42 Details

The technical summary data tells us to buy XOP near 131.8 with an upside target of 142.88. This data also tells us to set a stop loss @ 131.42 to protect against excessive loss in case the stock begins to move against the trade. 131.8 is the first level of support below 134.07 , and by rule, any test of support is a buy signal. In this case, support 131.8 would be being tested, so a buy signal would exist.

• Short XOP slightly under 142.88, target 131.8, stop loss @ 143.29 Details

The technical summary data is suggesting a short of XOP as it gets near 142.88 with a downside target of 131.8. We should have a stop loss in place at 143.29though. 142.88 is the first level of resistance above 134.07, and by rule, any test of resistance is a short signal. In this case, if resistance 142.88 is being tested, so a short signal would exist.

Swing Trading Plans for XOP

• Buy XOP slightly over 142.88, target 153.93, Stop Loss @ 142.47 Details

If 142.88 begins to break higher, the technical summary data tells us to buy XOP just slightly over 142.88, with an upside target of 153.93. The data also tells us to set a stop loss @ 142.47 in case the stock turns against the trade. 142.88 is the first level of resistance above 134.07, and by rule, any break above resistance is a buy signal. In this case, 142.88, 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 142.88, target 131.8, Stop Loss @ 143.29. Details

The technical summary data is suggesting a short of XOP if it tests 142.88 with a downside target of 131.8. We should have a stop loss in place at 143.29 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, 142.88, 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 142.88, target 153.93, Stop Loss @ 142.55 Details

If 142.88 begins to break higher, the technical summary data tells us to buy XOP just slightly over 142.88, with an upside target of 153.93. The data also tells us to set a stop loss @ 142.55 in case the stock turns against the trade. 142.88 is the first level of resistance above 134.07, and by rule, any break above resistance is a buy signal. In this case, 142.88, 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 142.88, target 132.7, Stop Loss @ 143.21. Details

The technical summary data is suggesting a short of XOP if it tests 142.88 with a downside target of 132.7. We should have a stop loss in place at 143.21 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, 142.88, 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 Oil & Gas Exploration And Production Etf (XOP) available here: XOP.

XOP Ratings for January 27:

Term →	Near	Mid	Long
Rating	Strong	Weak	Strong
P1	0	0	131.8
P2	131.42	126.54	142.88
P3	132.7	130.83	153.93

AI Generated Signals for XOP

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Spdr Oil & Gas Exploration And Production Etf (NYSE: XOP) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for XOP can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.