CVX trade ideas
CVX breaking out After days of tight price action, CVX finally breaking upwards to ATH. Watching cross of 175 with relative volume to see if rally can continue. Keep in mind, we are getting closer to travel season (summer) where demand for gas will be at its highest. CVX can keep staging massive strength rallies.
cvx/tsla and tsla/spxLooking at oil v tsla and tsla v spx
Just an observation, CVX/TLSA (top) had a double bottom at .10 - during this time, tsla made new highs relative to SPX(bottom)
Interestingly tslaspx is headed towards new highs it looks like while CVX/TSLA is hovering around 0.15
The fact TSLA was 9% higher due to a stock split is laughable, and shows just how absurd these markets are.
I think the trend of CVX/TSLA is just getting started...from a longterm perspective it really cant get much more exhausted and finally people are waking up to how important oil still is in context of global energy.
A midterm trade with 30% opportunity..!Entry: at the market opening price
Stop loss: 10%
Reward/Risk: 3
Target range: 30%
Time Frame: 4-12 wks
Possible gain: 30%
Possible loss:10 %
Position size: 5% of trading capital
You can see the most important support(green line) and resistance (red line) levels.
Best,
Dr. Moshkelgosha M.D
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CVX/AAPLMarket leader of old and one of the leaders this year in $CVX - this shows the ratio of CVX/AAPL - I put a rectangle around some candles I found interesting.
- pink circle shows the breakout
-blue arrows shows the RSI trend
CVX right now is trading at a multi-year high, I don't know how much higher it can go - what I do know, is every chart I am looking at on Oil on a multi-year level is screaming buy
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