How the price action of Spdr Oil & Gas Exploration And Production Etf ($XOP) is used to our Advantage
November 18, 2023, 18:00 pm ET, BY Harold S.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)
Longer Term Trading Plans for XOP
- Buy XOP slightly over 128.59 target 141.2 stop loss @ 128.22 Details
The technical summary data tells us to buy XOP near 128.59 with an upside target of 141.2. This data also tells us to set a stop loss @ 128.22 to protect against excessive loss in case the stock begins to move against the trade. 128.59 is the first level of support below 139.66 , and by rule, any test of support is a buy signal. In this case, support 128.59 would be being tested, so a buy signal would exist.
- Short XOP slightly under 141.2, target 128.59, stop loss @ 141.61 Details
The technical summary data is suggesting a short of XOP as it gets near 141.2 with a downside target of 128.59. We should have a stop loss in place at 141.61though. 141.2 is the first level of resistance above 139.66, and by rule, any test of resistance is a short signal. In this case, if resistance 141.2 is being tested, so a short signal would exist.
Swing Trading Plans for XOP
- Buy XOP slightly over 139.74, target 141.2, Stop Loss @ 139.34 Details
If 139.74 begins to break higher, the technical summary data tells us to buy XOP just slightly over 139.74, with an upside target of 141.2. The data also tells us to set a stop loss @ 139.34 in case the stock turns against the trade. 139.74 is the first level of resistance above 139.66, and by rule, any break above resistance is a buy signal. In this case, 139.74, 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 139.74, target 133.03, Stop Loss @ 140.14. Details
The technical summary data is suggesting a short of XOP if it tests 139.74 with a downside target of 133.03. We should have a stop loss in place at 140.14 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, 139.74, 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 139.74, target 140.94, Stop Loss @ 139.41 Details
If 139.74 begins to break higher, the technical summary data tells us to buy XOP just slightly over 139.74, with an upside target of 140.94. The data also tells us to set a stop loss @ 139.41 in case the stock turns against the trade. 139.74 is the first level of resistance above 139.66, and by rule, any break above resistance is a buy signal. In this case, 139.74, 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 139.74, target 136.74, Stop Loss @ 140.07. Details
The technical summary data is suggesting a short of XOP if it tests 139.74 with a downside target of 136.74. We should have a stop loss in place at 140.07 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, 139.74, 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 November 18:
| Term → | Near |
Mid |
Long |
|---|
| Rating |
Neutral |
Weak |
Neutral |
| P1 |
0 |
0 |
128.59 |
| P2 |
136.74 |
133.03 |
141.2 |
| P3 |
140.94 |
139.74 |
153.8 |
AI Generated Signals for XOP
Blue = Current Price
Red= Resistance
Green = Support
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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 Oil & Gas Exploration And Production Etf (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.
Fundamental Charts for XOP:
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