I took partial profits (half) on XOM this week expecting a pullback , I ALWAYS intended to add the half position back after the pullback at better prices, I believe we are there or very close.
I'll leave the half Sept. $85 Call position in place, but rather than add back at September expiration, I'll be moving the replacement position to an October expiration, same $85 strike.
If you are interested in XOM as a straight long position, I think a reasonable target would be $90-$91.
2 min may have just hit a head fake move or it may make a move a bit lower.
The 1 min chart has been one of the reasons I've kept interest in XOM calls.
The 5 min chart is now progressing as it should at the right time, place and size.
I'd like to see the 10 min chart do the same, but it takes some time for migration of a divergence.
The 15 min chart shows the change in character that got me to open the first XOM long after closing the XOM core short.
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