Alert: XOM and SNOW

We are thinking about including a gigantic asterisk as a permanent feature of these alerts. Whether any of these trade ideas work out, or not, depends alot on the daily tariff news.

We will carry on, assuming either no tariff-related events or at least news with a neutral impact.

Exxon Mobil

$XOM ( ▼ 0.6% ) just like almost every stock has a very ugly chart these days. The tariff tantrum took it down from $119 to $104 in two days, and then it went lower.

We see two positives that might make it worth trading:

1) Unlike many other stocks it is holding up well this week and does not seem inclined to revisit the $100 area.

2) This goes against conventional wisdom, but we actually like that it has closed near the bottom of its daily trading range for three days in a row. Good things happen in these situations.

Snowflake

Another ugly chart, but you might notice a bull flag planted last week at the $120 level. The last five days have traced out a pennant or triangle instead of drifting back toward those lows.

Classical technical analysis suggests a $12 move from where it breaks out of that triangle. That means something in the $158-160 range for a first target. Not amazing, but its something.