How the price action of Spdr S&p Oil & Gas Exploration (XOP) is used to our Advantage

December 02, 2021, 04:00 am ET, BY Neal- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Spdr S&p Oil & Gas Exploration (NYSE: XOP) data table below can help you with price action, and we have more details too. Trading plans for XOP are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for XOP

• Buy XOP slightly over 92.66 target 103.33 stop loss @ 92.39 Details

The technical summary data tells us to buy XOP near 92.66 with an upside target of 103.33. This data also tells us to set a stop loss @ 92.39 to protect against excessive loss in case the stock begins to move against the trade. 92.66 is the first level of support below 93.53 , and by rule, any test of support is a buy signal. In this case, support 92.66 would be being tested, so a buy signal would exist.

• Short XOP under 103.33, target 92.66, stop loss @ 103.63 Details

The technical summary data is suggesting a short of XOP as it gets near 103.33 with a downside target of 92.66. We should have a stop loss in place at 103.63though. 103.33 is the first level of resistance above 93.53, and by rule, any test of resistance is a short signal. In this case, if resistance 103.33 is being tested, so a short signal would exist.

Swing Trading Plans for XOP

• Buy XOP slightly over 94.23, target 99.93, Stop Loss @ 93.96 Details

If 94.23 begins to break higher, the technical summary data tells us to buy XOP just slightly over 94.23, with an upside target of 99.93. The data also tells us to set a stop loss @ 93.96 in case the stock turns against the trade. 94.23 is the first level of resistance above 93.53, and by rule, any break above resistance is a buy signal. In this case, 94.23, 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 near 94.23, target 92.66, Stop Loss @ 94.5. Details

The technical summary data is suggesting a short of XOP if it tests 94.23 with a downside target of 92.66. We should have a stop loss in place at 94.5 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, 94.23, 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 94.23, target 97.99, Stop Loss @ 94.01 Details

If 94.23 begins to break higher, the technical summary data tells us to buy XOP just slightly over 94.23, with an upside target of 97.99. The data also tells us to set a stop loss @ 94.01 in case the stock turns against the trade. 94.23 is the first level of resistance above 93.53, and by rule, any break above resistance is a buy signal. In this case, 94.23, 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 near 94.23, target 92.88, Stop Loss @ 94.45. Details

The technical summary data is suggesting a short of XOP if it tests 94.23 with a downside target of 92.88. We should have a stop loss in place at 94.45 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, 94.23, 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.

XOP Ratings for December 02:

Term →	Near	Mid	Long
Rating	Weak	Weak	Strong
P1	0	0	92.66
P2	92.88	94.23	103.33
P3	97.99	99.93	114.37

Support and Resistance Plot Chart for XOP

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