XOM - Upwards to an all new high?

40
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Volume
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- healthy
- increasing

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Price Action
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- Ascending triangle of 5 months spotted

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Technical Indicators
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- Ichimoku
>>> price above cloud
>>> Green kumo expanding slightly
>>> Tenken [Conv] - Above clouds, crossed Lagging & pointing up slightly
>>> Kijun [Base] - Above clouds, below conv, pointing up slightly
>>> Chiku [Lagging] - Above clouds, conv, base & pointing up


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Oscillators
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>>> MACD - still bullish
>>> DMI - turning bullish
>>> StochRSI - bullish, around overbought region

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Conclusion
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>>> Ichimoku overall - still bullish
>>> Oscillators overall - turning bullish

>>> Additional comments
- potential breakout to a new high

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Trade Plan
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- short to long term breakout swing
- price may reverse at current level, to enter spot or wait for pullback at entry 2.
- Entries and exits depends on your time horizon and risk management.


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Positions
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Entry 1 - $118
Entry 2 - $115

Stop - $110

Exit 1 - $121
Exit 2 - $124
Exit 3 - $128
Exit 4 - $135

Penafian

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