$CVX with a neutral outlook following its earnings #StocksThe PEAD projected a neutral outlook for NYSE:CVX after a negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 45.45%.
CVX trade ideas
Chevron in a range.Chevron Corporation - 30d expiry - We look to Buy at 157.22 (stop at 154.02)
We look to trade the current range.
156.22 has been pivotal.
Support is located at 157 and should stem dips to this area.
We look to buy dips.
The primary trend remains bullish.
Our profit targets will be 165.22 and 167.22
Resistance: 162.00 / 164.25 / 166.00
Support: 159.00 / 156.22 / 154.00
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Chevron, or oil stocks in general look ready to outperform s&P50If you just take a look at the chart, you can see we have had the deviation below support, broke back above, and are currently retesting.
this implies to me, that at the very least, Oil stocks , or chevron specifically, will keep pace with the s&p500 at the very least, until it is ready to massively outperform.
Chevron Corporation, for week#35Closed in green in the past 3 days, but not good enough volume.
Wait till it above $160.02, or the volume indicator confirms
Symmetrical TriangleNeutral until broken.
Some would measure the wide end of the triangle and project it from the up or down from the point of the break be it up or down.
No recommendation
CVX Trying to Move UpCVX consolidated for two months from May to July 2023 (larger rectangle). Moved up slightly and started consolidating again. Price is now above 20/50/100 EMAs and just below 200 EMA. Likely to break 200 EMA soon. Uptrend to start by end-August with PT of 180 by end-2023.
Technical and digital analysisWe notice that we are in the process of a small correction for the downside, and there is an increase in the selling momentum, and we wait for the buying momentum to weaken in the correction, and we sell,
CVX - One more leg downI´m considering this whole sideways movement to be a flat correction.
Therefore, blue wave C would occur in 5 subwaves, giving me the expectation of a new lower low below 150.
Invalidation is at 172.88.
CVX Bearish TrendAfter large spike in gas/oil prices recently a correction is in order. Looking for this bearish trend to continue and for CVX to retest resistance before going to support.
Rotation from tech to energySure tech can have another couple % up as the rotation is underway, but this chart looks quite convincing to me especially with the weekly bullish div on the macd.
Then we have a bullish engulfing weekly candle...
Atop of that, last week Cramer said this oil rally should be faded.
Buffet has been buying oil (oxy) which is also an interesting play. Although he is not an immediate reversal signal, it shows that the valuation of these companies is at a good area in his eyes.
I would love a small pullback tomorrow but I am not sure we get that. The entry now is not bad, the stoploss would be below the channel which is only 5% loss ish, for an implied 30+% move up.
Oil stocks being faded as oil roseTheyre sniffing something out, anyway. were forming a bearish descending triangle... I suspect this breaks and brings us back to support.
maybe lower.
CVX(Chevron): counting elliott wavesHello friends. Today, I counted waves of CVX (the stock of Chevron Oil Company). I hope you will like it.
After completing a full 5-wave, price is now completing wave c of corrective A. The decline will probably continue until the bottom of the channel, then we will witness an upward movement to complete wave B.
H/S formationCVX rallied off the yellow TL, which seems to be the neckline in this possible head and shoulders formation. At the moment, it looks like it is forming the right shoulder around ~$180.
Looking back to 2007, the stock has very defined levels of support and resistance.
Chevron Corporation, week#30Chevron closed above $158.58, last week.
It has a long tail and still in the cloud.
Hope it lasts UpTo $164.04
RectangleThe support line of this horizontal trading channel is strong due to multiple touches.
Targets are calculated using the height of the channel.
It is a neutral pattern until broken. This did break up but fell back into the channel.
No recommendation.
Chevron continues to hold back the bears.Chevron Corporation - 30d expiry - We look to Buy at 150.33 (stop at 146.33)
150 continues to hold back the bears. We look to buy dips.
149.91 has been pivotal.
149.74 has been pivotal.
This is currently an actively traded stock.
The primary trend remains bullish.
Our profit targets will be 160.33 and 162.33
Resistance: 164.04 / 166.00 / 169.00
Support: 158.50 / 156.00 / 153.00
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Leveraging on WB's investment in Chevron CorporationMany investors, institutional and retail follow the trades of Warren Buffett, the legendary investor like a hawk. Recently, he invested 41 billion in this oil company called Chevron Corporation.
Could he be looking at renewable energy growth that these Oil companies are now penetrating into ? Or looking at Oil prices now, he is expecting these Energy companies to follow suit ?
Please DYODD and be comfortable with the risks that follows.
Getting tightIt could take a couple of more weeks to explode, but it is worth to open a long position and accumulate next week. Oil is going up so I don't think this one breaks down.
Chevron Could Be Squeezing from its LowsBig tech stocks have gotten a lot of attention lately, but another theme has been cyclicals rallying off intermediate-term lows. Some of June’s bigger gainers, like Carnival and Delta Air Lines, advanced from these patterns. Today’s idea considers whether Chevron could follow a similar path.
We’ll start by identifying the two potentially key ingredients preceding the upside moves. First is a basing pattern near an intermediate-term low. Second is improving price momentum prior to the breakout (measured with the 9-day Rate of Change). Some of the charts in question also breached falling trendlines.
Now consider how CVX hit a five-month low of $150 in March. It then bounced and held the same level twice in June. Does that represent an intermediate-term bottom?
Second, the Rate of Change (ROC) oscillator has inched higher since early May. That may suggest sellers are losing control, even without the bulls yet clearly in charge.
Traders could now eye the mid-June high around $160.77 as a potential breakout zone. The closeness of the recent low around $150 may also create a threshold for risk management.
Finally, the macro backdrop may favor CVX. Cyclical groups like industrials, transports and materials outperformed last month as recession fears diminished. Investors looking for that pattern to widen may target energy given the tight oil inventories and the sector’s link to economic activity. Energy could also be active with an OPEC meeting this week.
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CVX: back to its 200-day?A price action above 155 supports a bullish trend direction.
Further bullish confirmation for a break above 160.
The target price is set at 165 (its 200-day simple moving average).
The stop-loss price is set at 153.
The concept of price stability is highly attractive and desirable in the realm of this stock.
