Long to topside of channelThe only question I have, is if were going to break above or below the channel when the time comes.
There are a couple of charts I want to post in the updates after this to explain why I think we break to the upside.
CHV trade ideas
Rotation Patterns in $CVXNYSE:CVX was the Dow 30 component that had the highest loss on Friday.
The chart clearly shows that the earnings report was not going to be good. The pattern is a failed bottom as there has been rotation to lower inventories of the stock for most of this year.
Declining Accum/Distribution indicators at the lows of the range followed by a negative divergence between the price trend and Accum/Dist are indicative of rotation within the sideways trend that never developed into a bottom.
Another Relational Technical Analysis tip to watch out for in other stocks, especially ahead of earnings reports.
CVX - Short SetupNYSE:CVX
Charts are self-explanatory. Levels of breakout, possible up-moves (where stock may find resistances) and support (close below which, setup will be invalidated) are clearly defined.
Disclaimer: This is for demonstration and educational purpose only. This is not buying or selling recommendations. I am not SEBI registered. Please consult your financial advisor before taking any trade.
CVX downtrend expectedYet again we are going for the short setup on CVX. As we can see the price is near the supply area, and we expect quite a fast drop starting from today.
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought CVX here:
or sold it before the previous earnings:
Then analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week,
I would consider purchasing the 157.50usd strike price Puts with
an expiration date of 2023-11-17,
for a premium of approximately $3.42.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
Looking forward to read your opinion about it.
In vogue, World Geopolitics!We have another piece of news on the American radar. Chevron buys Hess Corporation.
This could have a negative impact on CHEVRON's share prices in the short term, until the results of its newest acquisition are incorporated into its balance sheet!
A point of support at the moment would be the 155.40 region. If this price range is lost, we have another support point at 142.44.
I believe that this movement is to complement the country's energy security. A beautiful step towards "non-dependence on the OPEP+ cartel".
In this analysis, I told a little about American intentions to free themselves from the "monopoly" of black gold prices on the world market. We had another move on the global geopolitical board.
It's worth reading!
Do your analysis and good business.
Be aware, if you buy, use stop loss!
See other graphical analyzes below
CVX - Midway through BIt's becoming clear, that CVX is on track with SPX in that they are both midway through a B Wave.
CVX (Chevron Corp) Updated ChartIn these analysis we are updating our potential downside target, which is now much higher than we originally had. The RR becomes simply huge, which would be extremely profitable if target will be reached.
As always, we are posting exact signal with stop loss and take profit in our channel.
Third Wave going well! Climbing to 175 during its third wave (of V). Then a pull back before ultimately climbing toward the 180 range in early November.
CVX swing longI am becoming bullish on energy stocks, in particular CVX.
First my technical rationale:
CVX has consilidated over the past 3+ months in an unusually tight range. On Friday, the stock ended exactly on the POC for the trailing 3 months.
Despite a number of headwinds (see below) CVX remains in the context of an uptrend.
CVX and XLE (the ETF it is most closely correlated to) have under-performed the broader market over the longer term, but have shows strength more recently, pointing to the possibility of favorable sector rotation.
None of the three downward thrusts that occurred over the past month have uncovered significant supply at lower prices
A rise above 164 would present an entry on the double/triple bottom pattern that emerged over the past month, suggesting further potential towards 171+.
From a fundamental perspective:
Crude oil futures remained quite resilient despite the ongoing dollar strength over the past number of weeks, along with widely reported economic weakness reported out of China.
US rig counts have peaked late last year and started to decline significantly over the past six months. This should provide further support for oil prices.
Year-on-year realized price comparisons were very challenging during the first half of the year, but that headwind looks set to die down.
CVX is a high quality stock, with a rare, perfect Piotroski Score of 9, a substantial dividend, trading at a reasonable 11.3x 2024 EPS. Given all the macro uncertainty, this should help maintain demand for the stock.
I see two stages to this opportunity. In the shorter term, I expect a return to the highs of the trailing one month range. For this, my stop loss will be a closing violation of the ascending channel, while my PT is 164. On a longer time scale I see CVX return above 170, though that might not happen before the earnings release in early November.
CHEVRON: Best buy on the current market conditions.Chevron is trading inside a Channel Up pattern with the 1D technical outlook bearish (RSI = 42.924, MACD = 1.030, ADX = 27.596). This is expected since the 1D RSI entered the Buy Zone where the last two HH legs started. As seen on the chart, the price hit the bottom of the Channel Up, a standard buy entry inside such patterns. The slightest rebound will also form a 1D Golden Cross. The stock is therefore sitting on a triple buy signal, with an obvious R Zone right above it. We are targeting the R2 level (TP = 172.90).
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CVX downtrend intactAfter the breakout of the uptrend trendline, on a pullback, the price found resistance at 38.2% Fibonacci retracement level. We are looking at this short opportunity while watching the most recent high.
Overall, CVX is expected to drop down to the key Fibonacci support, which is a 61.8% retracement level.
CVX entering a stronger uptrend? We have breakouts of two chart patterns happening simultaneously. A secondary rectangle and a descending primary triangle.
Furthermore, the breakout of this rectangle highlights a very nice primary reversal pivot.
This could indicate that a longer uptrend could be on the horizon.
If this is true, it is possible that at least proportional movement of the primary trend can be achieved in the 171 region.
We will see.
The market is never wrong and can do whatever it wants.
CVX: oil prices are on the rise. Trading idea for 28/09/2023Oil prices for benchmark brands Brent and WTI are confidently surging towards 100 USD per barrel. In Q3 2023, the value of "black gold" has already soared by 30%. Revenues of companies within the oil and gas sector promise to be substantial at the end of the year. Moreover, such firms typically pay attractive dividends to investors.
Considering these developments, it is compelling to take a closer look at the stocks of energy companies. Today, our focus is on the Chevron Corporation chart (NYSE: CVX), one of the world's leaders in the oil and gas industry.
On the D1 timeframe, support lies at 167.01, with resistance at 168.52. This level was broken through on Wednesday 27 September 2023, and a new resistance level is yet to be established. There is also a clear upward trend on the H1 timeframe. In the short term, there is a potential price increase to 185.25, and in the medium term, a rise to 192.75 is likely.
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CHEVRON 1D Golden Cross ahead. Can it finally break out?Chevron Corporation (CVX) has been trading within a long-term Triangle pattern, which has potentially funneled the price action lately to a Rectangle. The key development for the next few days is the emerging Golden Cross on the 1D time-frame, the first since October 28 2021. Technically, this has the ability to break both above the Rectangle (Resistance 1 at 173.00) as well as the Triangle (Lower Highs trend-line).
The 1D RSI Higher Lows are supporting this action, so if we close a 1D candle above Resistance 1 (173.00) we will buy and target 180.00 (Lower Highs of Triangle). Then if upon a short-term pull-back the 1D MA50 holds, we will re-enter and target 188.00 (Resistance 2).
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CVX, Major CONTINUATION-SETUP, Sector Rally, BREAKOUT INCOMING!Hello There!
Welcome to my new analysis about CVX on several timeframe perspectives. The oil market since the corona pandemic supply-shock dynamics has formed a important dynamic and had the ability to form a major rebound recovery with several new highs being formed and CVX having the ability to bounce into a new all-time-high. Now a big part of the dynamic is the consideration of if CVX has the potential to continue with this established formation and with the established trend moving on with further determinations.
CVX on the local timeframe perspective is building this main wedge formation with great supports above the 140-150 area. If this wedge formation completes with the appropriate momentum breakout this will activate initial target-zones and above this considering the whole global big picture CVX is forming a much larger formation here with the broadening-wedge-formation on the global perspective being completed once the breakout of the local formation also setup. With the projection of this formation targets above 400 will be activated.
In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.
VP
CVXDiamond top or diamond continuation pattern? Or is it even a valid diamond pattern at all? Let me know your thoughts.
Chevron Corporation, week#39As long it's price didn't close below $165.00, you can add some of it shares
We set our target at $174.42
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Chevron (CVX) Corporation down it goesDuring the past few weeks, we are seeing a period of selling accumulation. This is because the price has managed to break below the long-term uptrend trendline, indicating a change in sentiment.
The most recent pullback shows that CVC didn't have enough steam to break above the downtrend trendline, yet again increasing the probability of further decline. We are taking this signal and will update you on the progress.
Chevron broke out of the $164 resistance...On Friday, Chevron broke out of the $164 resistance and settled at $167.21. A daily close above $168 may extend this rally towards the April-May 2023 high of around $173. In contrast, a daily close below $164 may drag prices down towards the $156
support.
$CVX - Falling Trend Channel [MID-TERM]🔹Rectangle Formation produced a POSITIVE signal at a breakout resistance of 160.
🔹Marginally broken up through resistance at 164, next resistance at 173.
🔹RSI curve indicates a rising trend, indicating an early indication of a possible upward trend reversal for the price.
🔹Technically POSITIVE for the medium long term.
Chart Pattern:
◦ DT: Double Top | BEARISH | 🔴
◦ DB: Double Bottom | BULLISH | 🟢
◦ HNS: Head & Shoulder | BEARISH | 🔴
◦ REC: Rectangle | 🔵
◦ iHNS: inverse head & Shoulder | BULLISH | 🟢
Verify it first and believe later.
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