Remain Short with #Exxon | 10 May 2019

 #Apple weekly

Technical observation

The commodity on the weekly chart above is trading at a resistance zone 207.82-204.46 on an increasing bullish bias, my expectation this week is either a breach above the zone with a big green candle or a bounce within it for possible downward movement of these shares. In case of a penetration above 207.82-204.46, wait for a correction to it to confirm upwards rally before you buy Apple shares, but should there be a rejection within 207.82-204.46 sell this company’s shares within the zone with your take profit at 147.91 and stop loss at 219.47.Right now remain flat and wait for either a breakout of a rejection to trade Apple.

Trade recommendation

Remain flat.

#Ebay weekly

Technical observation

The commodity on the chart above is rallying between a resistance zone 44.42-43.05 and a supportive level 31.76, I expect either a rise to the zone followed by a rejection within it for bearish rally of #Ebay, or a clear penetration below the key line 31.76 followed by a correction and a bounce at it for downwards movements towards 22.30.Remain neutral and wait for either a correction to 44.42-43.05 or a decline below the line 31.76 and a correction to it to sell these shares. As long as the value of this commodity remains below the zone 44.42-43.05, only short positions look ideal and may be recommended on the weekly chart above.

Trade recommendation

Remain neutral.

#Exxon weekly

Technical observation

Following the rejection of this commodity within the resistance zone 84.27-83.35, the value of Exxon has been declining steadily towards the key level 72.47 and I still expect more of this movement this week. In case you sold this commodity within 84.27-83.35 after a bounce, hold on to that position with your take profit at 72.47 and stop loss at 87.51, if you had traded it yet, you can wait for another correction to 84.27-83.35 and a rejection within it to sell #Exxon or a clear breakout below 72.47 followed by a correction and a bounce at it to sell this commodity. On the weekly chart above long positions may only be advisable above 84.27-83.35.

Trade recommendation

Remain short with your take profit at 72.47.