| Scenario | |
|---|---|
| Timeframe | Weekly |
| Recommendation | SELL STOP |
| Entry Point | 115.60 |
| Take Profit | 112.50, 106.25 |
| Stop Loss | 117.80 |
| Key Levels | 106.25, 112.50, 115.62, 121.88, 125.00, 128.12 |
| Alternative scenario | |
|---|---|
| Recommendation | BUY STOP |
| Entry Point | 121.90 |
| Take Profit | 125.00, 128.12 |
| Stop Loss | 119.80 |
| Key Levels | 106.25, 112.50, 115.62, 121.88, 125.00, 128.12 |
Current trend
Shares of ExxonMobil Corp., an American oil company, resumed growth at the beginning of this month within the long-term uptrend: quotes reversed from the level of 115.62 (Murrey level [5/8]) and are currently close to 121.88 (Murrey level [7/8]), consolidation above which will ensure an increase in upward dynamics towards the targets of 125.00 (Murrey level [8/8]) and 128.12 (Murrey level [ 1/8]). The key level for the "bears" remains 115.62, at the breakdown of which the movement can resume to 112.50 (Murrey level [4/8]) and 106.25 (Murrey level [2/8]).
Technical indicators confirm the likelihood of a resumption of a decline: Bollinger Bands are reversing down, MACD has moved into a negative zone, but Stochastic is preparing to leave the overbought zone.
Support and resistance
Resistance levels: 121.88, 125.00, 128.12.
Support levels: 115.62, 112.50, 106.25.
Trading tips
Short positions should be opened below 115.62 with targets of 112.50, 106.25 and a stop-loss around 117.80. Implementation period: 5–7 days.
Long positions can be opened above 121.88 with targets of 125.00, 128.12 and a stop-loss around 119.80.
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