CVX Bullish Megaphone Triangle megaPattern
CVX on the 4-hour chart appears to have a megaphone pattern setup.
The price appears to be approaching the confluence of the
midline of the megaphone pattern acting as resistance with
the SMA 200 nearby. If the price can break through it could
head higher to the upper trend line of resistance and the
SMA 100. Blue sky on the horizon. XOM has a similar chart,
Big Oil is still alive and may be diversifying. Warren
Buffet working on accumulating market share for good
cause....so maybe buy the stock or perhaps out of the $
strike of $200 for three months expiration and sell by
late October to avoid Nov 1 earnings volatility
The price appears to be approaching the confluence of the
midline of the megaphone pattern acting as resistance with
the SMA 200 nearby. If the price can break through it could
head higher to the upper trend line of resistance and the
SMA 100. Blue sky on the horizon. XOM has a similar chart,
Big Oil is still alive and may be diversifying. Warren
Buffet working on accumulating market share for good
cause....so maybe buy the stock or perhaps out of the $
strike of $200 for three months expiration and sell by
late October to avoid Nov 1 earnings volatility
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