CVI has encountered a resistance at this down channel top But I think it will break Following an uptrend line it will stick to it. Breakout possible.
#GOVI CVI price prediction in the process of playing out and looking to establish support at the 1.70 range with a possible retest of 1.30 before level 2
NYSE:CVI Possible Scenario: LONG Evidence: Price Action This is my idea and could be wrong 100%, CALLS for 21 May Strike 25$
Bullish Divergence on RSI, Higher volume than average, waiting for breakout confirmation (If there's a breakout!)
Early Inverted H&S can be seen forming, a left shoulder and a head can be observed. This theory is supported by both rising CVI and volume RSI. Risky trade.
Let's face it, this company is terrible. Mediocre balance sheet, overvalued, has increased debt, bad earnings, everything is terrible. It's at least double the price it should be. So, I decided to short at 42.30 and I'm aiming for the other side of the channel.
This is a bullish swing trade I am considering entering tomorrow. I am going to watch the markets closely to see how they open tomorrow as well as the oil market. I liked the crude inventories number that came out this afternoon which I believe could help boost oil prices as well as oil stocks in the near term. It looks to me like the price is at a decent support...
Looks to me like a Cup and Handle pattern is forming. Will keep a close I on CVI for a breakout above the cups high.
CVI is consolidating in a flag pattern right now, if we get a nice run on this it can breakout above the $17 resistance area.