ExxonMobil Trading Analysis (01/12/2023)

The overall trend is ascending. The stock is traded near the support level of 101.50. The descending wave structure is truncated. There is bullish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals the oversold state.



Trading idea:

Buy at the formation of the upward wave structure, when the A-wave breaches the sloping channel of the descending truncated structure.

Stop-Loss: 101.50.

Target price levels: 109.00; 118.50.

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