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5 Big Stocks to Trade for Post-Debate Gains

Exxon Mobil

First up is integrated oil and gas supermajor Exxon Mobil (XOM - Get Report). Exxon has been swinging in a wide range this year, dragged behind the ebb and flow of oil prices. While that's resulted in underperformance vs. the S&P 500 so far this year, the setup in this stock is signaling higher prices for shareholders in the coming weeks.

>>4 Stocks Poised to Pop on Earnings

That's because Exxon is currently forming an ascending triangle pattern, a bullish setup that's formed by a horizontal resistance level above shares and an uptrending support level below them. Essentially, as shares bounce in between those two technical price levels, they're getting squeezed closer and closer to a breakout above resistance (in XOM's case at $92.50). When that happens, traders have a buy signal.

Exxon's setup is very short-term, but it's got some extra evidence pointing to upside from the pattern. Momentum, measured by 14-day RSI, is still in an uptrend, a good sign since momentum is a leading indicator of price. Trading volume points to upside too in Exxon - volume has been declining over the course of the pattern (which is the textbook volume behavior for an ascending triangle).

Ideally, we'll want to see a volume spike when shares move above $92.50; that indicates that buyers are participating in the breakout. I'd recommend sitting on the sidelines until that happens.
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FMX $86.63 -3.20%
MTU $3.92 -3.20%
TRI $34.46 -3.30%
XOM $78.37 -1.20%
WMT $65.20 -0.90%


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