CVX trade ideas
Comprehensive Analysis of Chevron (CVX) - 16/09/2024Chevron (CVX) is an established energy company listed in the S&P 500 index.
Technical Analysis: I use moving averages as zones rather than lines. On the weekly chart, I applied the 200 EMA and 200 SMA, shading the area between them in orange to create a moving average zone. Currently, prices are finding support in this zone on the weekly chart.
Additionally, the $140 level acts as a demand zone and creates confluence.
On the daily chart, the ATR-based Keltner Channels are touching the lower band, indicating that downside volatility has reached its natural limits. There is also a bullish order block present.
On the 4-hour chart, I use the Inverse Fisher RSI. It filters out noise and provides fewer false signals compared to the standard RSI.
On the 1-hour chart, there is a noticeable decline in volume. Remember, without volume, it is difficult to break through support or resistance levels. From a technical standpoint, different timeframes are giving BUY signals.
Fundamental Analysis: The company has a price-to-earnings ratio of 13.81, which is considered normal for the sector. In the last quarter, Chevron reported total revenue of $49.66 billion and a net profit of $4.43 billion, resulting in a 9% profit margin, which meets my no-loss rule.
Chevron has strong return on equity, and growth continues. Its current ratio is 1.16, meaning its short-term assets exceed its liabilities, indicating financial stability.
The price-to-book ratio is 1.60, which is excellent for a company of this size.
Chevron's total assets stand at $260 billion, while total liabilities are around $100 billion, meaning the company's debt-to-assets ratio is 38.51%, which is highly acceptable.
The company’s annual dividend yield is 4.55%, providing a potential bonus for long-term investors.
With CVX trading near its 52-week low and showing positive signals, it could be a good choice for portfolio managers.
CVX - 1W - Symmetrical Triangle BreakdownChevron has broken down from a symmetrical triangle that started in July 2022, along with its 200-day EMA.
The outlook appears bearish, with a price target around USD100.
Approaching a major support level on CVX.🔉Sound on!🔉
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Chevron (CVX): Approaching a Critical Support ZoneIt's been a while since we last analyzed CVX, but we’re now approaching a very important area on the chart. You might wonder why we’re focusing on the weekly chart instead of the daily. The reason is simple: sometimes you need to zoom out to get a clearer perspective, and in this case, the weekly chart holds far more significance than the daily. There’s no point in searching for entries on the daily when the more crucial entry level on the weekly is just below.
We’re looking to find support at the HVN POC (High Volume Node Point of Control) at $117, which would also serve as a retest after the last breakout in 2022. We’re still determining the best way to place a limit order at this level, but for now, we’re waiting on the sidelines with alerts set and a light game plan ready.
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t sold CVX before the previous earnings:
Now analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week,
I would consider purchasing the 145usd strike price Puts with
an expiration date of 2024-12-20,
for a premium of approximately $4.10.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
$CVX longLong opportunity on NYSE:CVX
Why?:
- Respected this strong 1W bullish order block
- Ascending triangle breakout
- Time Relative Volume Oscillator shows WAY more buyers than sellers
- Wick-to-body forecast is BULLISH
Bullish BAT on CVX Before Earnings!CVX is giving me some bullish signs, Bullish BAT, bullish engulfing candles, and standing right at strong pivot zone. Also RVOL is declining which shows less selling pressure. Could be a low risk Long Entry having SL set (Stop Loss) 🚀✌️🤑
CVX making bullish Cypher Harmonic PatternCVX is in the process of making a bullish Cypher Harmonic Pattern. We are in a zone that could possibly become the bottom, but first we have to establish the bottom. And then we can aim for 3 green fib zones for taking profits. Please note that we are in a downward channel move, so for sure, breaking out from this channel can be very bullish.
See you later ChevronNYSE:CVX
note the following directional arrows are concepts and how I want to enter
With firms rotating out of AMEX:XLE we can expect some of the sectors top holdings and laggers get downside potential. Looking more into this I found NYSE:CVX to be the best candidate. NYSE:CVX and other gas stocks seem to be the ones catching the momentum down. Chevron also is following the same structure as AMEX:XLE which if AMEX:XLE gets the drop Monday we can expect NYSE:CVX to follow.
Expected Range - Upside $158.78 Downside $151.82
Key Levels - $153.37 - $153.59, $155.05 - $155.30, $155.61 - $156.94
Rating - Rotation out of AMEX:XLE +5, Rising volume near pivot +1, formed a base (slowed down)/topping wicks after break of base +1, same weakness as AMEX:XLE +1
8/10 Bullish, 2/10 Bearish
A US stock: CVX, Long setup, Swing trade H4 or above timeframe👋Hello Traders,
Our 🖥️ AI system detected that there is an H4 or higher timeframe ICT Short setup in US stock : CVX for Swing trade.
Please refer to the details Stop loss, FVG(Buy Zone),open for take profit.
For more ideas, you are welcome to visit our profile in tradingview.
Have a good day!
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CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought the dip on CVX:
nor sold the double top:
Now analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week,
I would consider purchasing the 165usd strike price Puts with
an expiration date of 2024-9-20,
for a premium of approximately $9.20.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
CVX Potential Buy setupReasons for bullish bias:
- Safe entry at breakout for confirmation
- Price bounced from strong support
- SL below support
Entry Level(Buy Stop): 155.04
Stop Loss Level: 139.16
Take Profit Level 1: 170.92
Chevron Launches $500 Mln Investment Fund in Low Carbon TechChevron ( NYSE:CVX ), a prominent player in the energy sector, is embarking on a transformative journey with the launch of its $500 million Future Energy Fund III. This strategic move by the company's venture capital arm reflects a broader industry trend as oil majors pivot towards sustainable, low-carbon technologies in response to mounting pressure to address climate change.
A Green Investment Vision:
With the unveiling of the Future Energy Fund III, Chevron Technology Ventures ( NYSE:CVX ) is signaling a firm commitment to investing in renewable energy technologies. The fund's focus on innovations in industrial decarbonization, emerging mobility, energy decentralization, and the circular carbon economy underscores Chevron's ambition to drive positive environmental impact while embracing opportunities in the rapidly evolving energy landscape.
Diversifying Business Horizons:
As traditional oil and gas companies face increasing scrutiny over their carbon footprint, diversification has emerged as a strategic imperative. Chevron's move to allocate substantial capital towards low-carbon initiatives aligns with its broader goal of transitioning towards a more sustainable and resilient business model. By investing in novel low carbon fuels, advanced materials, and carbon transformation technologies, Chevron is positioning itself at the forefront of the energy transition.
Building on Past Success:
Chevron Technology Ventures' ( NYSE:CVX ) track record in fostering innovation is exemplified by its previous Future Energy Funds, launched in 2018 and 2021. With a total commitment of $400 million and investments in over 30 companies, these initiatives have laid the groundwork for future growth and expansion. The launch of Future Energy Fund III represents a natural progression in Chevron's ongoing efforts to drive positive change and create value in a rapidly evolving energy landscape.
Industry-wide Transformation:
Chevron's bold investment in low carbon technologies mirrors a broader shift within the energy sector. As the world's largest oil and gas companies set ambitious targets to reduce greenhouse gas emissions, initiatives like the Future Energy Fund III serve as catalysts for innovation and progress. By embracing sustainability and leveraging technological advancements, Chevron is not only future-proofing its business but also contributing to global efforts to combat climate change.
Conclusion:
Chevron's $500 million commitment to the Future Energy Fund III marks a significant milestone in the company's journey towards a more sustainable future. By investing in cutting-edge technologies and embracing the transition to a low carbon economy, Chevron is not only redefining its own business but also setting a precedent for the broader energy industry. As the world grapples with the urgent challenges of climate change, initiatives like the Future Energy Fund III underscore the critical role that innovation and investment play in shaping a more sustainable tomorrow.
Chevron Corporation (CVX) – A Comprehensive OutlookToday's focus is on Chevron Corporation (NYSE: CVX), a key player in the Energy Minerals sector. Our technical analysis will delve into the recent price dynamics and indicators to forecast potential price movements. We will also incorporate Chevron's strategic investment news, which can play a vital role in influencing investor sentiment and future price action.
Current Price Action:
Chevron's stock shows a closing price of $156.93 on the latest candlestick, with a noticeable pullback from the upper bounds of the Ichimoku cloud. This pullback is indicative of a potential reversal in the upward momentum witnessed in the prior sessions.
Ichimoku Cloud Analysis:
The Ichimoku Cloud, a comprehensive indicator that provides information on support/resistance, trend direction, momentum, and buy/sell signals, is currently signaling caution. Although the price is above the cloud – a traditionally bullish sign – the recent dip towards the cloud suggests that bullish momentum may be waning.
Fibonacci Retracement Levels:
By applying Fibonacci retracement levels to the recent uptrend, we identify critical support levels at 23.60% ($147.20) and 38.20% ($151.48). The stock has recently bounced off the 38.20% level, indicating resilient support; however, a break below this could trigger a move toward the 23.60% retracement level.
Volume and Volatility:
The volume has been relatively stable, yet we’ve observed an increase during sell-offs, a sign that bearish sentiment could be taking hold. However, the absence of extreme volume spikes suggests that the current retracement is not yet indicative of a major trend reversal.
Technical Indicators:
Relative Strength Index (RSI): The RSI hovers around 48, which is neutral territory. This indicates that there is neither overwhelming buying nor selling pressure currently in play.
Moving Average Convergence Divergence (MACD): The MACD line is beneath the signal line and the histogram shows bearish momentum building, albeit at a slow pace. Watch for a potential bullish crossover as an early indication of momentum shift.
Stochastic Oscillator: The Stochastic readings are currently near oversold levels, which could suggest an upcoming rebound if a bullish crossover occurs.
On-Balance Volume (OBV): The OBV shows no significant divergence from the price, which suggests that the recent price changes are supported by corresponding volume.
Market Sentiment and News:
Chevron's strategic move to pour $500M into renewable energy sources has been well-received, indicating a forward-thinking approach in a traditionally fossil fuel-dependent sector. This news could act as a catalyst for bullish sentiment, offsetting any technical bearishness.
Price Target Speculation:
Assuming the current support levels hold firm, a bullish scenario could see Chevron's stock price target the recent high of $165.21. Conversely, a breakdown below the 38.20% Fibonacci level may set the stage for a drop towards the $147.20 support level.
Conclusion:
In summary, Chevron's stock presents a mixed technical picture. The proximity to the Ichimoku cloud from above and the neutral-to-bearish readings on several indicators suggest a cautious approach. The resilience of the 38.20% Fibonacci support level is critical in the short term. Long-term sentiment could be swayed by the company's investment in renewables, potentially providing a fundamental tailwind to a technical rebound.
Traders and investors should monitor these levels closely and look out for volume surges and indicator crossovers for early trading signals. It is essential to keep an eye on broader market sentiment and news flow, which could significantly impact the stock's trajectory.
Chevron (CVX): Elliot Wave Analysis and Future OutlookChevron (CVX): NYSE:CVX
Examining Chevron's charts, starting with the weekly chart, we believe the first cycle concluded at the level of $120 in July 2014. That's quite some time ago. Since then, we've also developed Wave II at $51.60, coinciding with the COVID-19 low, marking the end of Wave II. From there, we've constructed the initial impulse waves upwards: Waves 1, 2, and 3. In our view, Wave 4 has not yet concluded, and there are reasons to believe this count cannot be adjusted otherwise. It's possible to count it differently, but we don't find it logically compelling. Looking post-COVID-19 low from $51.60, we've observed Waves 1 and 2, followed by a five-wave structure leading to Wave 3. What's interesting here is the absence of a five-wave impulse upwards, indicating Wave 4 is not yet complete. We also don't believe that Wave 4 lies at the level of Wave ((a)), a possible scenario, but not one we subscribe to. Given the sharp nature of Wave 2, as opposed to a sideways movement, we anticipate Wave 4 to be more extended and prolonged in time, likely moving sideways.
On a shorter time frame, since the all-time high of $189.68, we expect to see a five-wave structure moving downwards. Having completed Wave (iii), Wave (iv) should now stabilize between the 38.2% and 50% levels, potentially leading to an uptick in the coming days without significantly breaching the level of Wave (i). This would invalidate our analysis, marked in red as our invalidation line. If we exceed this, we'll need to reconsider our count. Until then, we anticipate a decline to complete Waves (v), ((c)), and 4.
Investment Opportunity Chevron CorporationPotential Investment Opportunity on Chevron Corporation.
+25% Upside
-11% Downside
$CVX heading to new highsNYSE:CVX Just made a double bottom at the support zone on 1W TF, which also happens to be the 200 EMA. It then went up to break the neckline, went back for the neckline retest, and now on its way up
I think we might see new highs here
Chevron: Bottom established 🌱The Chevron stock price has established the low of the blue wave (b). Going forward, the blue wave (c) should now push the stock above the resistance at $158.99, so that the overarching wave (a) in magenta can be completed there. The next step should then see a significant sell-off. However, there is a 37% chance that the price will set a new low with the blue wave alt.(b) below the support at $147.67 (but still above the next support at $139.62).
CVX - BullishProbabilities are lining up with CVX pushing for higher levels. 158 is target 1 for me. Good luck.
Not financial advice
CVX is Neutral With Two Key Price Levels to MonitorNYSE:CVX has lost support at the light blue resistance line, and this light blue trendline has flipped into resistance. CVX is trading above a yellow support level at $131.47. There is neutral price action here, and I think CVX doesn't have a clear direction for now. I would look for buy opportunities at or below the yellow trendline if CVX starts trending down, I think there will be a rebound there. If CVX starts trending up I would monitor for a rejection at the light blue trendline. I think CVX should find a direction within a few weeks, and I'd be happy to revisit the chart.
