Exxon’s most recent trend suggests a bullish bias. One trading opportunity on Exxon is a Bull Put Spread using a strike $81.00 short put and a strike $76.00 long put offers a potential 9.65% return on risk over the next 5 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $81.00 by expiration. The full premium credit of $0.44 would be kept by the premium seller. The risk of $4.56 would be incurred if the stock dropped below the $76.00 long put strike price.
The 5-day moving average is moving down which suggests that the short-term momentum for Exxon is bearish and the probability of a decline in share price is higher if the stock starts trending.
The 20-day moving average is moving up which suggests that the medium-term momentum for Exxon is bullish.
The RSI indicator is at 58.78 level which suggests that the stock is neither overbought nor oversold at this time.
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Thu, 11 Apr 2019 19:29:41 +0000
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Exxon Mobil Stock Is Running Out of Fuel — Short It!
Thu, 11 Apr 2019 16:58:37 +0000
Shares of Exxon Mobil (NYSE:XOM) are finally hitting some resistance after a major move higher. XOM stock is finally stalling out as it approaches some serious resistance levels. Now that oil is looking overbought as well, I expect a period of consolidation or pullback in Exxon Mobil stock over the near termLooking at the Exxon’s chart, I’m seeing XOM scrapping the top of its range. XOM is fast approaching major resistance at the $84 area. This has proven to be a formidable level in the past. MACD is poised to generate a fresh new sell signal on any further weakness. Click to Enlarge Momentum has remained positive for the longest stretch over the past year but is tepid at best. Exxon is trading well above the 20-day moving average of $81.15, which has also been a bearish indicator.InvestorPlace – Stock Market News, Stock Advice & Trading Tips * 7 Marijuana Companies: Which Pot Stocks Should You Buy? XOM stock finally ran into some selling pressure yesterday after an extended rally. Shares failed to make fresh new highs yesterday, opening lower and closing near the lows of the day. This type of price action many times signals a short term top in the stock. The buyers may finally be exhausted and the sellers have gained control.Exxon is the largest oil company in the U.S., so it makes sense that the stock price is highly correlated to the price of crude oil. Recently XOM stock has begun to dramatically outperform the price of oil, as seen in the chart. Click to Enlarge I expect Exxon stock to revert back toward the traditional relationship to crude. This means XOM should be a relative underperformer over the next few months. Considering my less than-bullish-outlook for oil prices in the intermediate term, I think Exxon Mobil stock will languish at best and likely pullback. Bottom Line on XOM StockTraders should look to short XOM stock on any rallies for the foreseeable future. Options traders may want to use the resistance level at $84 to structure bear call spreads.The June $85/$87.50 call spread can be sold for a 50 cents net credit. Maximum gain is $50 per spread with maximum risk of $200 per spread. Return on risk is 25%. The short $85 strike price provides a 3.75% upside cushion to the $81.93 closing price of XOM.Exxon Mobil stock will go ex-dividend by 82 cents in May. Anyone short the shares on ex-date is liable for that dividend. Earnings are due May 3.Tim Biggam may hold some of the aforementioned securities in one or more of his newsletters. Anyone interested in finding out more about Tim and his option-based strategies can go to https://marketfy.com/item/options-and-volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * FAANNG Stocks, Ranked From Cheapest to Most Expensive * 7 Stocks With a Lot on the Line This Earnings Season * 7 Marijuana Companies: Which Pot Stocks Should You Buy? Compare Brokers The post Exxon Mobil Stock Is Running Out of Fuel — Short It! appeared first on InvestorPlace.
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