$XOM EXXON has to break out of this channel soon.

For the last 3 years Exxon has been stuck in this channel and has failed on 4 attempts to break out. Earnings are approaching on the 4/30/19 and we expect a positive result but will not be rushing into the name quite yet, given historical data we will wait for a break from channel before looking going long or a rejection at top of channel for a short. Our bias is however that a positive break will occur.