ExxonMobil has been rising along with energy stocks, and some traders may see potential for another leg higher.
The first pattern on today’s chart is the narrowing consolidation since September 22. XOM has made higher lows while mostly staying under the September 24 high of $164.91. Is that a bullish ascending triangle that’s breaking to the upside?
Second, Bollinger Bandwidth has narrowed to the tightest range since March. Such tight consolidation may create potential for prices to expand.
Third, the 8-day exponential moving average (EMA) has stayed above the 21-day EMA. That may reflect short-term bullishness in the energy giant.
Next, incrementally higher lows have occurred since early July. XOM’s 50-day simple moving average (SMA) has also remained above the 200-day SMA. Those patterns may reflect bullishness in the intermediate and longer terms.
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Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
The first pattern on today’s chart is the narrowing consolidation since September 22. XOM has made higher lows while mostly staying under the September 24 high of $164.91. Is that a bullish ascending triangle that’s breaking to the upside?
Second, Bollinger Bandwidth has narrowed to the tightest range since March. Such tight consolidation may create potential for prices to expand.
Third, the 8-day exponential moving average (EMA) has stayed above the 21-day EMA. That may reflect short-term bullishness in the energy giant.
Next, incrementally higher lows have occurred since early July. XOM’s 50-day simple moving average (SMA) has also remained above the 200-day SMA. Those patterns may reflect bullishness in the intermediate and longer terms.
TradeStation has lowered its intraday margin rates on the two biggest stock indexes! Just $150 is all you need to go long and short with a firm that’s advanced the trading industry for decades.
Like stocks and options? We’ve got you covered there too. Learn more here.
(Select futures only. Contract limits apply. Futures trading is not suitable for all investors. Margin trading carries risk.)
Margin trading involves risks, and it is important that you fully understand those risks before trading on margin. The Margin Disclosure Statement outlines many of those risks, including that you can lose more funds than you deposit in your margin account; your brokerage firm can force the sale of securities in your account; your brokerage firm can sell your securities without contacting you; and you are not entitled to an extension of time on a margin call. Review the Margin Disclosure Statement at https://www.TradeStation.com/DisclosureMargin.
Past performance, whether actual or indicated by historical tests of strategies, is no guarantee of future performance or success. There is a possibility that you may sustain a loss equal to or greater than your entire investment regardless of which asset class you trade (equities, options or futures); therefore, you should not invest or risk money that you cannot afford to lose. Online trading is not suitable for all investors. View the document titled Characteristics and Risks of Standardized Options at https://www.TradeStation.com/DisclosureOptions. Before trading any asset class, customers must read the relevant risk disclosure statements on https://www.TradeStation.com/Important-Information/. System access and trade placement and execution may be delayed or fail due to market volatility and volume, quote delays, system and software errors, Internet traffic, outages and other factors.
Securities and futures trading is offered to self-directed customers by TradeStation Securities, Inc., a broker-dealer registered with the Securities and Exchange Commission and a futures commission merchant licensed with the Commodity Futures Trading Commission). TradeStation Securities is a member of the Financial Industry Regulatory Authority, the National Futures Association, and a number of exchanges.
TradeStation Securities, Inc. and TradeStation Technologies, Inc. are each wholly owned subsidiaries of TradeStation Group, Inc., both operating, and providing products and services, under the TradeStation brand and trademark. When applying for, or purchasing, accounts, subscriptions, products and services, it is important that you know which company you will be dealing with. Visit https://www.TradeStation.com/DisclosureTSCompanies for further important information explaining what this means.
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Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.