XOM has bounced off of daily demand area and has formed an upward trend on low and high timeframes. Trading volume increased significantly on Friday. 1st target around $76 and 2nd target $77.50. Let's not forget the attractiveness going long on a high dividend stock. If not a bounce, than further consolidation in $73-$74 range. I believe it would take a major geopolitical oil event to send it much lower. Risk-reward is good.
Order dibatalkan:
Further consolidation. No trade.