By Licia Leslie
November 3, 2024
Hi Shoppers,
Exxon Mobil (Ticker: XOM) reported earnings on Friday, gapped higher and then completely reversed creating a huge red bearish candle:
I think XOM is going to trade down to $113.52 and possibly down to the 200 day moving average at $114.
By Monday, the implied volatility will be down even more as it was raised for the earnings report.
I like the Nov08 115 puts:
Use a close over $116.61 as your stop loss.
Thank You for Reading … See You Next Tuesday,
Licia Leslie
Licia Leslie
Head of Technical Analysis
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