Just thought I'd share a position I'm currently in. There was a ridiculous crash that happened on Sept 9th which to me seemed like unreasonable panic selling. There is good outlook for this medication. So I started accumulating shares in the channel. My position is now 1000 shares average price of $7.18. Looking to cash in when the gap is filled which is about 55%...
NYSE:CVX
Entered a swing trade today on CVX. Noticed that it landed on a resistance line in the wedge pattern. The RSI has been neutral on all time frames but regardless I view the stock as being undervalued. Fortunately the storms haven't affected production either unlike with XOM.
-Entered early in the morning when it did a fake breakout to the bottom....
I'm expecting this stock to breakout of the wedge pattern and continue the overall uptrend. I don't normally use Fibonacci retracement levels but wanted to estimate some levels of resistance. Will be taking profits at the 0.382 level and my stop is at 242.43. What are your thoughts? My only concern is it looks like there is a looming death cross. My entry was at...
