CVX Looks to hit $94 in the Short Term
Updated
Based on the Short Term bullish activity of CVX, I think the stock will hit 95 and maybe even 98 within the next few weeks or months. I would set a buy limit of 85 with a stop at 82. To mitigate risk or free up capital, If CVX cannot close above the 100 EMA on the Daily by the middle of March I would exit the position.
Summer also the opportunity to send the stock up past the 2 Fib target. The Stock has a 3:1 reward:risk ratio at $94 with this buy-stop position in place.
Summer also the opportunity to send the stock up past the 2 Fib target. The Stock has a 3:1 reward:risk ratio at $94 with this buy-stop position in place.
Trade active
I was never able to get triggered in 85 but it looks like 94 is very possible. I would wait for a pull back down to 88.82 or even 87 to buy with a stop @86.Trade closed: target reached
For those of you that were able to get triggered in at 88 or 87 the $94 target was reached for a win of at least 3:1.March 20 and April 1 are going to be big moving days on CVX which will determine the next direction of the stock because those days are when the worlds biggest oil producers discuss a production freeze on oil.
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