CVX trade ideas
CVX - Short term support and resistance1. Fortune_TD, Fortune Banker trend, Fortune Crown stage:
28 Sep 2022, Fortune TD 9 and Force 9 show the trend exhaustion range, the green bar on the previous day shows this is a potential share pull back. .
03 Oct 2022, Fortune Crown red dot reverse from bottom
03 Oct 2022, Fortune Banker trend, green line shows the banker chips flow in from 26 Sep 2022, then short money cross its 5 days average on 03 Oct 2022, potentially a reversal at the bottom.
2. Support and resistance:
the support is the lower price of share pull back signal (green bar), at 140.46.
The 1st resistance is the gap down on 10 Jun 2022, at 173.65.
4. Summary:
Based on above analysis, if the share price hit the resistance 173, and the buy point is 152, short term profit is approximate 11%. If there is no sell signal at the resistance level , then it will develop into main wave.
Disclaimer : no recommendation of buy/sell, purely for TA learning and sharing.
Chevron Redux - Price Line Test AheadChevron MONTHLY Linear Scale
This 30 year price line has been breached 4 times since it's origin in 1992. Each time there has been a subsequent sharp reversal greater than 40%.
Earlier this summer there was a breach that resulted in a sharp and dramatic sell off. Thatwas a fantastic no brainer trade.
As you can see we are approaching this level again.
Short Set-up.....Wait for confirmation. I can't imagine it will be as straight forward as it was in June.
Will this pattern repeat... Does it pierce the line again or fail below it? Or..."Is it different this time"
CVX shows bullish hammer under MA 100 on dailyShorted after a nice bearish hammer at high.
Needed to move my stop closer since got bullish hammer after clearing MA 100 which is concerning.
A lot of room to go down but have to mitigate my risks. Ready to renter if stopped out after downward movement resumes.
CVX: Crude Oil blues?Chevron Corporation
Short Term - We look to Sell at 162.55 (stop at 167.91)
Our outlook is bearish. The trend of lower highs is located at 166.80. A firmer opening is expected to challenge bearish resolve. Preferred trade is to sell into rallies. Further downside is expected.
Our profit targets will be 148.94 and 144.00
Resistance: 165.00 / 182.00 / 200.00
Support: 148.50 / 134.00 / 111.00
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8/24/22 CVXChevron Corporation ( NYSE:CVX )
Sector: Energy Minerals (Integrated Oil )
Market Capitalization: 319.434B
Current Price: $163.19
Breakout price: $164.35
Buy Zone (Top/Bottom Range): $156.20-$146.90
Price Target: $180.00-$182.70
Estimated Duration to Target: 48-50d
Contract of Interest: $CVX 10/21/22 170c
Trade price as of publish date: $5.60/contract
CVX Bullish Megaphone Triangle megaPatternCVX 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