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

Longer Term Trading Plans for XOP
  • Buy XOP slightly over 116.44 target 129.89 stop loss @ 116.1 Details
  • The technical summary data tells us to buy XOP near 116.44 with an upside target of 129.89. This data also tells us to set a stop loss @ 116.1 to protect against excessive loss in case the stock begins to move against the trade. 116.44 is the first level of support below 129.08 , and by rule, any test of support is a buy signal. In this case, support 116.44 would be being tested, so a buy signal would exist.

  • Short XOP slightly under 129.89, target 116.44, stop loss @ 130.27 Details
  • The technical summary data is suggesting a short of XOP as it gets near 129.89 with a downside target of 116.44. We should have a stop loss in place at 130.27though. 129.89 is the first level of resistance above 129.08, and by rule, any test of resistance is a short signal. In this case, if resistance 129.89 is being tested, so a short signal would exist.

Swing Trading Plans for XOP
  • Buy XOP slightly over 129.89, target 143.39, Stop Loss @ 129.51 Details
  • If 129.89 begins to break higher, the technical summary data tells us to buy XOP just slightly over 129.89, with an upside target of 143.39. The data also tells us to set a stop loss @ 129.51 in case the stock turns against the trade. 129.89 is the first level of resistance above 129.08, and by rule, any break above resistance is a buy signal. In this case, 129.89, 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 129.89, target 126.38, Stop Loss @ 130.27. Details
  • The technical summary data is suggesting a short of XOP if it tests 129.89 with a downside target of 126.38. We should have a stop loss in place at 130.27 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, 129.89, 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 129.32, target 129.89, Stop Loss @ 129.02 Details
  • If 129.32 begins to break higher, the technical summary data tells us to buy XOP just slightly over 129.32, with an upside target of 129.89. The data also tells us to set a stop loss @ 129.02 in case the stock turns against the trade. 129.32 is the first level of resistance above 129.08, and by rule, any break above resistance is a buy signal. In this case, 129.32, 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 129.32, target 126.38, Stop Loss @ 129.62. Details
  • The technical summary data is suggesting a short of XOP if it tests 129.32 with a downside target of 126.38. We should have a stop loss in place at 129.62 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, 129.32, 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.

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XOP Ratings for June 08:

Term →Near Mid Long
Rating Strong Neutral Neutral
P1 0 0 116.44
P2 126.20 119.63 129.89
P3 129.32 126.38 143.39
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Support and Resistance Plot Chart for XOP

XOP Long Term Analysis for June 8 2023

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 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.