CVX has some more gas in the tank
I love being able to say "I told you so." Been buying this beauty all the way down and back up, DCAing my cost basis down the whole way (I got a little to exuberant during it's first pump to ATH.)
We're still below 50% of ATH right now, and if you take a minute to look at the fundamentals you'll see why I've been so bullish Convex.
STF (3h) RSI and MACD still putting in higher highs but RSI is over 80 so I expect a pullback sometime soon.
LTF (3d)
On the 3D RSI is just pushing over 50, we're over the 18d SMA and MACD flipped positive, all signaling bullish on the longer term.
Strong resistance level at 30. With STF indicators still looking good I would expect a rally to around here followed by a pullback to the lower 20s (yellow box) but overall a continued bullish trend on the LTF.
We're still below 50% of ATH right now, and if you take a minute to look at the fundamentals you'll see why I've been so bullish Convex.
STF (3h) RSI and MACD still putting in higher highs but RSI is over 80 so I expect a pullback sometime soon.
LTF (3d)
On the 3D RSI is just pushing over 50, we're over the 18d SMA and MACD flipped positive, all signaling bullish on the longer term.
Strong resistance level at 30. With STF indicators still looking good I would expect a rally to around here followed by a pullback to the lower 20s (yellow box) but overall a continued bullish trend on the LTF.
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