ExxonMobil Trading Analysis (02/12/2024)
The trend is ascending. The stock is trading in the range between 365 and 135 EMAs. The downward truncated wave structure ended with the breach of the descending channel. There is a bullish divergence on the Awesome Oscillator and the Stochastic Oscillator signals an oversold condition. The breach of 118.50 will start the formation of the rising wave structure within the overall rising trend.
Trade idea:
- Buy on the breach of 118.50.
- Stop-loss at 117.36.
- Price targets at 120.57 and 123.16.
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