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CVX

OXY SHORT after bouncing down from All Time ResistanceOXY as shown on the chart is still in a megaphone pattern. Horizontal resistance red line is the all time highs of Spring 2018. In the past several trading sessions, spot oil has dropped from $96 to $87. The MACD indicator which is lagging shows the K / D cross over the histogram. Accordingly, OXY is now trending downward to the mid-Fibonacci retracement levels and the confluence of the mid-line of the megaphone pattern. This appears to be a safe short trade setup especially now that the buying pressure of Mr. Buffet has subsided.
NYSE:OXYShort
by AwesomeAvani
1
VET is pumping profits LONGVET like OXY is showing a great chart with consistent price action. Fundamentally, it has had great earnings reports in the past year. It rates an 8/8 on the Minervini Trend scale showing strength and duration of trend as very high. Vermillon Energy has been strong in the general market downturn. I see this as a Swing long setup with a good expectant reward for the risk assumed. I am considering the call strike $30 option for September 16th.
NYSE:VETLong
by AwesomeAvani
2
OXY Sellers Fall Down ( Flat Bottom Triangle Breakout) LONGNYSE:OXY One hour chart: NYSE:OXY In the past day, the relative volume of sellers has decreased and price momentum is gradually increasing despite the general market reaction to federal economic news. The flat bottom triangle breakout suggests sellers are capitulating on pricing given current circumstances. The RSI Oscillator is in a mid-range suggesting more upside. I see a long setup with call otpions 2 weeks expiration strike $85.
NYSE:OXYLong
by AwesomeAvani
OXY Early Breakout from FLAT BOTTOM TRIANGENYSE:OXY OXY has market momentum with the ongoing Buffet buying frenzy. It has been in a pattern since the spring 2022 Buffet buying that is a flat bottom triangle. The latest buying seems to be resulting in a breakout from the triangle yet without retest. Rising relative strength on the RSI serves to validate the move. Buffet seems to know that the current inflation is a headwind for growth for the alternative energy sector while Big Oil is drowning in cash and buying back stock relentlessly. A ll in all , OXY IS A STONG BUY even if spot oil and futures prices are drifting lower. if the retest fails and OXY returns to the triangle in conjunction with oil prices decreasing and the general market sideways, I will take some put options for a few months.
NYSE:OXYLong
by AwesomeAvani
1
COMMODITIES (OIL ) vs EQUITIES ( DIA)In this chart, I have plotted the ratio of the price of the USOIL ETF over the DIA, which is the broad ETF for the DJI. The chart shows the USOIL ETF has been stronger than the DIA until the market lows in mid June after which the DIA rebounded while hot oil prices cooled off. The analysis would be is that oil prices may be relatively undervalued at present and so represent a potential basement sale at a time when the federal goverment just approved a vast upgrade in oil leases on federal land. If investing in big oil at this time ( like Warren Buffet) what stock or ETF trade would you be inclined to take? AMEX:USO
TVC:USOILLong
by AwesomeAvani
CRVThe CRV projection shows bottoms likely in and we have been buying down for a very nice avg entry. Mine is somewhere around $1.30 if I am to remove all the free coins I've made trading CRV during the2021 bull market. This is a boring chart showing that we land somewhere around $6 EOY -Jan 2023 but we should expect a slow recovery here becuase USA Markets are a bees dick away from a recession and altseason is in the review mirror at this point. Likely no awesome altseason again until next BTC 1/2ing. So cowboy up and be patient. IMHO
COINBASE:CRVUSDLong
by Big_Mike716
2
$CVX CHEVRON WYCKOFF plus INVERSE HEAD and SHOULDER Pattern$CVX Chevron Corp This is one of my favorite charts because it had a clear UPTHRUST WYCKOFF DISTRIBUTION PATTERN and I was able to short the full measured move down without a sweat and share that with my friends, yay money! Chevron has completed the full measured move down on the WYCKOFF distribution pattern and is showing signs of accumulation. A few things to note below: 1. Warren Buffet loaded on Chevron. 2. Supply on oil is still low and the demand is high. The government policy on oil refineries doesn't help the supply. 3. The Russia War on Ukraine is still in full effect. (prayers) 4. Their earnings lag, however, this stock will move significantly on news that directly effects these headlines. 5. It is a dividend paying stock, I believe the news will try hard to beat it down so hedge funds can load up. Like I mentioned above, $cvx appears to be in accumulation, it has formed a decent consolidation pattern. If you zoom into the 4 hour timeframe you will find a beautiful INVERSE HEAD & SHOULDER pattern developing (flip from bars to line chart for a different view). The left shoulder shows the highest selling volume bar and checks the box of a textbook inverse H&S. However, if this pattern fails, I have setup some support levels below. This one will be on the top of my watchlist next week!
NYSE:CVX
by ChaldeaCode
Selection is not dead - and who said Growth ever was?INVESTMENT CONTEXT Lithuania limited railway cargo transit across its territory from Russia to Kaliningrad; Russia dubbed the move as "openly hostile" Russia overtook Saudi Arabia as China’s biggest supplier of crude oil. Russian crude exports to China surged 55% in May Turkey, Sweden and Finland met to discuss Turkey's opposition to the Nordic countries bid to join NATO French President Emmanuel Macron lost parliamentary majority as the country's far-right regained momentum after the Presidential elections held last April European Commission President Ursula von der Leyen warned against the bloc's "backsliding" into coal as the continent tries to weave itself off Russian gas Terra/LUNA project staff were banned from flying as South Korean authorities deepen investigations on LUNA's demise PROFZERO'S TAKE It's hard to look at the EU without feeling something disruptive is about to happen. The bloc's inflation rate is not too far from that of the U.S. (8.1% vs. 8.6%, respectively) - yet the ECB's base rate, even after the 25bps hike earlier in June, is still negative by 25bps, while the Fed is already pricing cash at 150bps. The Fed has stopped sustaining fixed income markets by not rolling over USD 30bn Treasury bonds and USD 17.5bn MBS per month - the ECB tried to walk down the same path, only to face backlash from traders which sent interest rates on the weakest countries (Greece, Italy and Spain) to fresh highs. And as Russia curtails natural gas supplies, the countries that are most exposed to energy security - notably including Germany and Italy - scramble to diversify the energy mix, stumbling upon the harsh reality that coal will attract criticism from environmental groups (and voters) while LNG supplies need re-gasification plants - whose dearth won't be made up for until 2024. Nigel Bolton, BlackRock's co-Chief Investment Officer, said on June 20 he saw "extreme valuation opportunity in European banks". ProfZero would really, sincerely like to share the same optimism - or opportunism Speaking of Europe - after dismissing blockchain assets as "worth nothing" (and therefore badly needing regulation, in a rare moment of pure pneumatic vacuum of logics), ECB President Christine Lagarde said "While the correction in asset prices has so far been orderly, the risk of a further and possibly abrupt fall in asset prices remains severe". ProfZero concurs with Madame Lagarde - absent energy security and supply strategy, foggy monetary policy (to tighten or not to tighten?) and a much feared fragmentation of borrowing costs already happening, traders are having it good shorting European assets. If only there was a strong Regulator... In the opinion of ProfZero, the market-wise breadth of June 13's collapse has a deeper structural meaning, and could in fact contain cues on portfolio construction to cross summer season: (i) Markets are not done pricing a recession, nor the Fed's and the ECB monetary policy. After the 50bps rate hike on May 5, the S&P 500 and Nasdaq plunged 3.56% and 4.99%, respectively; after the 75bps rate increase on June 15, the indexes nosedived 3.27% and 4.08%, respectively. The Fed is meeting four more times this year; current expectations are for 75bps flat increases at each meeting. Should inflation fail to be absorbed in the economy, calling for more rate increases, equities would bear the brunt of the selloffs, (ii) Investors are starting to see Value as fairly priced - possibly signaling the beginning of reversal on commodity stocks, especially in the energy space. At the same time, Growth is not dead. Apple (AAPL), Alphabet (GOOG) and Microsoft (MSFT) dropped less than 5% on average in the last month, compared to almost 15% by Occidental Petroleum (OXY), Petrobras (PBR), and Shell (RDS.A), (iii) It is still too early to construct risk positions. A clear trough has not been touched and even a touted recession has not materialized. No clear industrial path has emerged from the bear market; and without such, longs are but reckless positions. No time to cry; no time to risk either
CME:BTC1!
by ProfZero