Oil Rally Heats Up – Exxon (XOM) – Bullish DailyPlay – April 2nd, 2019

The bullish DailyPlay we chose for Tuesday, April 2nd is Exxon (XOM). XOM is part of the Energy Sector (XLE). XLE has rallied 0.81% higher over the past month and its 1m and 6m trend turned bullish yesterday and is testing its $67 resistance level.

Exxon’s 1m and 6m trends turned bearish on March 26th and recently bounced higher off its $80 support level. With a technical score of 6 (out of 10), XOM is a neutral stock that will likely trend higher.

As a stop loss, if XOM was to trade below $80 for multiple days, this would invalidate our analysis and suggest getting out of the trade.