pmp1337

XOM Long but not for long

Long
NYSE:XOM   Exxon Mobil
XOM

The post Corona-Crash regression is approaching the downward dip trend of past year. The intersection will coincide with the earnings so at the earnings we could see a break downwards.

But until then we might see 1 or 2 tests of the 54.20 resistance. Depending on market conditions. 54.20 was also the max of the dead cat bounce during the crash and is also close to the level of the shoulder of the last peak of Jun 20.

(this is merely a guess, it is not financial advice, etc...)
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.