On the 14th of September I had published a post with Exxon Mobil, Corporation (NYSE:XOM) buy signal. Here you can find it. That date and signal are both indicated on the chart, which you can see above. The current date is marked with yellow ellipse. Since that time price has moved significantly higher. Currently the stock price is 80.95$ which is 95 cents higher than my nearest target price (80.00$). As you can see from the chart there were buy signals on 15th, 16th, 17th and 18th of September. The price of Exxon Mobil Corporation has gone far away from the 22-day simple moving average. The current 22-day MA value equals to 77.64$. This moving average acted as a resistance level and stopped the bullish trend on the 17th of September. As it is crossed now 77.64$ level has become the support level now. That circumstances make me think that Exxon has very good prospects of growth. So, I update my signal and I think it will be effective to buy more options. By the way, the Bull Call spread 75$-80$ which I bought on the 14th of september for 260$ can now be sold for 485$. I think that’s very good result.
P.S. Due to very strong signals I update my target price to 83$.
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