CVX Looks to hit $94 in the Short Term
Based on the Short Term bullish activity of CVX, I think the stock will hit 95 and maybe even 98 within the next few weeks or months. I would set a buy limit of 85 with a stop at 82. To mitigate risk or free up capital, If CVX cannot close above the 100 EMA on the Daily by the middle of March I would exit the position.
Summer also the opportunity to send the stock up past the 2 Fib target. The Stock has a 3:1 reward:risk ratio at $94 with this buy-stop position in place.
Summer also the opportunity to send the stock up past the 2 Fib target. The Stock has a 3:1 reward:risk ratio at $94 with this buy-stop position in place.
Trade active
I was never able to get triggered in 85 but it looks like 94 is very possible. I would wait for a pull back down to 88.82 or even 87 to buy with a stop @86.Trade closed: target reached
For those of you that were able to get triggered in at 88 or 87 the $94 target was reached for a win of at least 3:1.March 20 and April 1 are going to be big moving days on CVX which will determine the next direction of the stock because those days are when the worlds biggest oil producers discuss a production freeze on oil.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.