BY LICIA LESLIE
June 12, 2024
Hi Shoppers,
Exxon Mobil (Ticker: XOM) has a nice little hammer created yesterday sitting right on support:
Wait for confirmation this morning of the stock trading higher before hopping in on the long side.
$XOM looks ready to trade up the 21 day moving average at $115.36 and possibly the 50 DMA at $117.55.
I like calls in the Jun28 expiration cycle:
Use a close below yesterday’s low at $111.31 as your stop loss.
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Walmart (Ticker: WMT) has had two inside days and revisited the resistance at the top of the pitchfork. I still think this one is going to roll lower.
Gamestop (Ticker: GME) has sold off and bounced off support yesterday creating a bullish engulfing candle. There may be more gas in the tank on this one.
Thanks for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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