 Hey guys, what is going on? It's Brycat23 here with Xtrades. Today, we're going to go over some tickers that were both requested by members and just that I thought had a good setup coming into this coming week. One is J&J and the other is ExxonMobil. So first things first, if we're taking a look at J&J from just a chart pattern perspective, we clearly see that this is a bullish ascending triangle, rising triangle. You know, whatever term you prefer to use, but ultimately we have a nice uptrend that formed gap up after the ER, which then kind of formed a small consolidation before gapping down and then prices kind of formed into this bullish rising triangle and really are setting us up for a nice what appears to be a nice potential move to the upside in the near future. So ultimately, we obviously love these rising triangles, especially when you have a strong uptrend that formed kind of preceding this pattern. So it's really nice to see prices run to this level on on healthy volume like they did in this uptrend and then consolidate sideways. And then just getting again, these consistently higher lows is really just showing the buyers have a lot more strength relative to the sellers. And that's really what you want to see at the end of the day. And at each touch of resistance, just getting a smaller rejection from that resistance and buyers stepping in earlier and earlier. And then ultimately we had a really strong earnings event and a strong reaction to it on the buy side that led to just kind of a really nice reaction and, you know, a low that didn't even get that basically got halfway to our support zone before kind of making a move upwards. So ultimately, it's still a rising triangle. You know, we filled in we filled in more than I'd say more than 60% of the space of this trend, which is kind of what you want to look for to make sure that your trend is valid in terms of price actually filling the pattern that you're looking at because you don't want to just assume it's a pattern and, you know, have the triangle actually only be encompassed by about 40% 30% of price. So the fact that this price is actually, you know, a good portion of this triangle of the shape of the triangle does make me feel good about the duration and the time that was spent in this pattern and the bias that comes with the breakout. So I would feel pretty good about making a bullish assumption as long as we stay above the old resistance area. So really it's that 166.7 area I'm looking at. We definitely have like a spinning top slash doji candle here that definitely signals some indecision and it came on low volume, which is good. So that could just mean it's a small small pullback or a little consolidation zone forming, which could give us just a good base to push off of. So I would definitely keep an eye on that. I don't really expect a strong move just to continue upwards. I'd expect judging by this candle and the lower than average volume, I would expect a little bit of a pause in the run in price and then for a nice base to build and then for us to make a nice move off of that in order to kind of reach our price target. So again, I would be bullish above this 166.7 area and really based on the height of the pattern, which is about $13 and the percentage meeting price target, which for rising triangles is pretty strong. So it's 70% if you get that breakout in the desired direction. So really I'm expecting kind of like a $9 move to the upside and we know that obviously our resistance is that 166. So essentially I'm expecting our price target to be right at that 175 level and judging by kind of our reaction around the last earnings event back in what looks like February or January. Looks like late January 174 was kind of where we topped out previously. So instead of kind of looking for that 175 number, I would feel much more comfortable looking for profit taking around this 174, maybe even a little bit before it, just because there is likely going to be some profit taking in there as there was large profit taking and a lot of selling pressure at these levels previously. And you can just see that the price wanted nothing to do with it in this kind of 170 plus range and even in the high 160s price was definitely sensitive to these areas. So once we form a base and potentially set up for a nice move to the upside, you know, I would definitely like a price target for this to be right around that 174, 175 price area. It could take a couple a couple weeks, maybe even a month or month and a half to do that, based on the timeframe that this triangle formed in. So again, it started back in, you know, we'll say back in March it started. So again, you're looking at essentially almost a two month period where this formed. So just based on that, I wouldn't be surprised if it took six to eight weeks for us to reach our price target. So that's again why you know you want to be patient and make sure that we don't get into this trade too early. So really watch what happens after this candle watch to see what the selling pressure is like and where the price holds. Because if the price holds above this 166.7 and it's a really low volume kind of consolidation candle similar to this doji, then we could have we could have a good look at kind of an entry point in the near future. But again, bullish above this 166.7 area. And I think that we'll definitely see 174 to 175 likely in the next six weeks, I would say just judging again by the timeframe that the price pattern formed over and broke out within. And again, my price target would be really that 173 to 174 range, just because it's a kind of a blend of the price pattern expectations as well as the previous rejection that we saw back in late January and the sensitive just the sensitive sensitivity of price in that area. So that's really what I see here with J&J. I'm definitely a big fan of it. But again, I'd wait to see what happens after this candle and really would remain bullish regardless above this 166.7 price area. So keep an eye on it. It could form a really nice base this week. And just give you a good area to make a nice bullish runoff of based on this bullish price pattern. So definitely like J&J. As far as XOM goes, it's a really nice setup as well. And this is just a really strong uptrend that we formed. And obviously, you know, oil, gas, all these we're going to just bound to bounce back strongly once the economy began opening again. And that's really what you're seeing. It's just a really strong reaction to the economy reopening and demand coming back. So there's no more kind of imbalance in between supply and demand. And it was to such an extreme degree in this pandemic. So it's really nice to see so much strength back in, back in a lot of these oil companies. And obviously we've made a really strong bullish run, essentially from, you know, the beginning or middle of November all the way until early March. And now we're kind of forming this bullish consolidation pattern, which is what I believe is a tough and handle. We'll see if we get a handle. I mean, there's not much selling in here and there's still pretty strong buying volume. So we might actually just break out of it straight away and kind of skip a consolidation phase. But if that happens, then this area should act as a support if we just kind of break out above it. And we might just kind of consolidate afterwards. So you could pop above and consolidate sideways a little bit and this could act as your support. And then you could look for that continuation to the upside. But I really like the setup here. Again, just based on everything reopening, we're kind of entering the summer months. There's definitely going to be that high travel demand. And just the vaccination output seems to be constantly improving. So this is obviously a really bullish setup and a bullish pattern. And, you know, it's got a good height to this pattern at around $8. The percentage meeting price targets for these cup and handles are around 60%, 61 to be precise, but that kind of puts an expected move at around $5 for me. So, again, if we break out and go above that, you know, 62-6 price level tomorrow, we could definitely see that $5 move to the top side over the course of, you know, the next month or so. Again, kind of based on this timeframe, the cup essentially formed over the course of over the course of, you know, seven weeks or so, six or seven weeks. So I'd really like to see a breakout happen in the near term. And then once that does happen, I'd expect this $5 move to the upside to happen, you know, within that six to seven week timeframe that it took for us to consolidate. I wouldn't expect it to take longer than that. Again, just based on the timeframe of the consolidation phase. And that really puts our kind of price target right at that 66 or 67.6 level. Again, just because our resistance area seems to be 62.6, so we're just adding $5 to that resistance. And then if we do get a breakout, this area should definitely act as your support and you should see high volume buying above that. If it's kind of low volume buying and there's a lot of kind of wishy-washyness between buyers there, then I definitely tread cautiously and watch for the reaction because you're likely going to get a retest of this old resistance and new support. So I definitely like to see the way this pans out. But if you get high volume buying here and a nice move, there could be pauses along the way afterwards, but seeing a high volume and just buyer heavy breakout would definitely be a nice confirmation of the future upwards movement and price that we expect. And then it should also just kind of give more strength to this area to act as an area of support. Just again, because if it breaks through it with conviction and lots of buyers, then there's going to have to be a pretty large change in sentiment because you're going to need a lot of sellers to break down through that price level as well. So definitely keep an eye on this tomorrow and even early into this week. We may not form that handle, but it's possible that there's kind of low volume selling that happens tomorrow. Or even early this week. But again, I'd really like to see a breakout and would definitely be bullish if we caught a breakout above that 62.6 price level. So definitely keep an eye on XOM. Think it's a really good setup, really strong setup, high probability as long as you get in. You know, once we get that confirmed breakout and see some see some high relative volume and the candle where we get the breakout. So keep an eye on that. Again, my price target would be right around, you know, 67.6, 68 over the next six to seven weeks. And then similarly, you know, J&J, as we already talked about, I'd really like to see it run to this 174, 175 price level over the next six to eight weeks, I would say. But again, both of them are just really strong setups. And obviously, if you have any questions with them or how any of the targets were determined, definitely let me know and just leave a comment below. So thank you guys so much for joining. And I hope you have a great weekend. Thanks so much. Bye.