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CVX

#CVX - Descending triangle breakout alertBreakout alert descending triangle on CVX. Chevron Corp. engages in the provision of administrative, financial management, and technology support for energy and chemical operations. It operates through the Upstream and Downstream segments. The stock is listed on the New York Stock Exchange. CVX price formed an almost one year-long reversal pattern as descending triangle, with the lower boundary as strong support at 108.90 levels. The horizontal boundary has been tested several times during the chart pattern formation until its breakout. In addition, we must bear in mind 3 relevant factors on the technical structure of the stock: 1.- Double top at 133.85 levels, without a higher high. 2.- Breakdown the trendline since 2015 3.- Breakdown the trendline since 1974 So that: - A daily close below 105.63, confirms the breakout of the chart pattern. - The possible price target of the reversal chart pattern is at 87.33 levels. Please don't forget to give a like if you appreciate it :) Note: Entry and exit prices are provided only as reference according to the principles of the classical charting. Each trader must take his own decisions depending on their own strategy and tactics. These levels do not indicate the specific entry and exit price, these levels only suggest a possible technical structure change.
NYSE:CVXShort
by AlfaCharts
What can I Say About These ClownsCorporate Vision is Important. I can’t stress that enough. It’s also important to work on one’s flaws, to be the best one can be. I look at this Crew and I just shake my head. Some how these F’Ups manage to succeed and move forward despite themselves. I guess there is a lot to be said for being in the right place at the right time… This is a company I know way too much about, technologically and financially. These guys invest in their business, but they are always playing catch up technologically. They have no problem putting money into their operation in order to conduct business, but their capital utilization is horrifically low. These guys will never be the innovators of their industry, but they will squeeze the last drop of value out of the technology they have. The Elliot Wave pattern implies that after this decade, this company should do really well. The company is positioned really well to take advantage of the growth in the middle class of the Asian markets. Could be a pretty bumpy ride in the mean term.
NYSE:CVX
by Cincinnatuus