I'm not Matt or Steve but I do watch this one and I think an
obvious target for the retracement would be about 72.1 which is the
50 dma and the 50% fib.
I can't see XOM being a rocket, it is quite defensive, not your
typical oil stock. Plot it against the SPX and put a weekly RSI and
MACD on it and you'll see there is bullish divergence.
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XOM has broken out
Posted by klatuu on 6th of Jan 2010 at 03:16 pm
Matt mentioned this a few days back and I stuck with it, now taking off like a rocket.
Klatuu
I'm not Matt or Steve
Posted by oreo on 6th of Jan 2010 at 08:15 pm
I'm not Matt or Steve but I do watch this one and I think an obvious target for the retracement would be about 72.1 which is the 50 dma and the 50% fib.
Good Luck!
I can't see XOM being
Posted by window72 on 6th of Jan 2010 at 04:11 pm
I can't see XOM being a rocket, it is quite defensive, not your typical oil stock. Plot it against the SPX and put a weekly RSI and MACD on it and you'll see there is bullish divergence.