The trading world is jammed with buy and sell recommendations.
They come from everybody who wants to be heard, ranging from obscure research firms to established Wall Street institutions. Everybody shows arguments behind the talk. The worse is that most of them are non-sense based on financial interest of the party. In this noisy world, there is one solution to stay safe: listen but verify first. You can do this with your existent methods, techniques, indicators and you can add Heikin-Ashi to existent range of tools. I prefer the second option.
Exxon (XOM) was a Buy issued by a reputable US publication recently. They use completely different analysis tools to reach this conclusion, we use Heikin-Ashi to verify.
Exxon (XOM) daily
In an uptrend with higher highs, higher lows. The Heikin-Ashi indicators and candle are positive. There is a thin cloud above this rosy chart: (1) haDelta is near a resistance defined by historical maximums and (2) the close hovers below the buy-stop (resistance). Therefore, we can confirm the positive character and agree with the recommendation. Let's see how the weekly chart looks.
Exxon (XOM) weekly
First, the uptrend that started in October 2021 is healthy, above the trailing-stop. haDelta reinforces the positive character. haOscillator, a slightly delayed indicator, is slower to react. As long as the weekly price stays above the trailing-stop, XOM remains bullish.
Exxon (XOM) monthly
Finally, another bullish chart: a series of Heikin-Ashi white candles and the price above the trailing-stop. haDelta is confusing at a high level. XOM is in a long-term uptrend with a stop @71. Bullish.
-
