pool adsWhen the Price of Exxon Mobil #XOM Talks, People Listen
This is not EF Hutton, but it could be more #powerful. A picture speaks a thousand words, they say, and the #priceaction of Exxon Mobil (NYSE: XOM) 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 XOM 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.
Technical Summary
| Term → | Near | Mid | Long |
|---|---|---|---|
| Rating | Strong | Strong | Strong |
| P1 | 0 | 0 | 44.15 |
| P2 | 61.19 | 61.82 | 51.65 |
| P3 | 63.14 | 63.84 | 59.83 |
Support and Resistance Plot Chart for XOM
Longer Term Trading Plans for XOM
May 12, 2021, 2:45 am ET
Our Longer Term Plans for XOM help you determine where to buy, sell, short, and set risk controls. Use this in conjunction with our Longer Term Market Analysis to go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis and see how it helps you work with this XOM Report.
XOM - (Long) Support Plan
The technical summary data tells us to buy XOM near 59.83, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 59.66 to protect against excessive loss in case the stock begins to move against the trade. 59.83 is the first level of support below 60.59, and by rule, any test of support is a buy signal. In this case, if support 59.83 is being tested, a buy signal would exist.
XOM - (Short) Resistance Plan
NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.
Blue = Current Price
Red= Resistance
Green = Support
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