Red flag for ChevronRed flag for Chevron $CVX
Announced big share buyback plans during earnings, shares popped higher from mini base but quickly reversed lower.
CVX trade ideas
Chevron | Short the TopChevron looks like it is about to rollover after creating a new high, along with announcing a buy-back program.
Not really much else to say....? bye ✌️
CVX - Horizontal (Resistance Turned Support)In each horizontal example the initial push is seen as great resistance, but it is pushed through and this horizontal is eventually seen as support eventually, from this support price continues to rise (as seen in first example)
Bullish potential
CVXThe Trend Lines are above. If SPX does not decline, all the stocks can start a rally which I expect cannot exceed the ATH. I expect 2024 will be the bigger rally and this year, I expect fluctuations.
Not an investment reccomendation.
Potential Bullish Triangle in ChevronEnergy stocks have been holding their gains of the last two years following a pullback in early December. Now one of the biggest names could have signs of resuming its uptrend: Chevron
The first pattern on today’s chart is the series of higher lows since December 16. CVX probed the December 27 close near $177.50 several times during this period. The result has been an ascending triangle -- a potential bullish continuation pattern.
Next, prices are back above the 50-day simple moving average (SMA). That may indicate buyers are taking control over the intermediate term.
Third, you have some short-term signals: MACD is rising and the 8-day exponential moving average (EMA) has crossed back above the 21-day EMA.
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Oil and Oil Company Divergence to End Soon
Either the oil companies will dump or oil will rise sharply such that Oil companies and Oil get back in sync. The divergence started in mid 2022 and has been quite perplexing and I don't have a good hypothesis as to why (war could have something to do with it). However, they have always sought each other out in the long run and while there is some chance that oil companies will fall (red (c)), I think Oil will do the work and start a sharp increase as soon as it bottoms here shortly. Any other insights?
FlagThe pole is up so it is a bull flag I suppose.
Price is barely over the resistance line of the structure so I turned the line blue versus red. I would not call it a clean break or an uptrend over the flag R line, Some would adhere to 2 closes over the R line unless it is a huge green candle. It is really what you are comfortable with.
Suspicious W but oil seems to defy the odds, but I would still do a second look if price reaches the 1.113.
167.10 appears to be a strong level of support and also lines up with C in an ABC pattern.
There are rising wedges well below price, but these are not valid until price reaches down to the area of over-supply. The over-supply dwelling in the rising wedge will kick in as a rule when the level is met. The lower line of a Rising Wedge is a level of support and is why this pattern is not valid until this line is broken.
The lowest wedge I spot for CVX is around 115ish but we are not there.
No recommendation.
EL is 182.75/Earnings are 1-27-23
Chevron Corp (CVX.US) Big ShortAnother tread from the Big Sort US series. Throughout 2023, I expect total shorts on US stock markets.
$CVX with the 2-2-2u continuation on the day approaching 5EMA$CVX with the 2-2-2u continuation on the daily approaching the 50EMA at the $173.50 PL,in route to the $174.92 PL
NYSE:CVX
CHEVRON The road to recovery is set but will have its bumpsThe Chevron Corporation (CVX) has been pulling back since the November 15 rejection and is already below the 1D MA50 (blue trend-line) headed towards the 1D MA200 (orange trend-line).
As you see the stock has been trading on a Fibonacci Channel since the October 29 2020 bottom and its last two Higher Lows (July 14, September 28) found Support on or around the 1W MA50 (red trend-line).
Remarkably, we last saw the very same Fibonacci Channel during the 2010/11/12 period (chart on the right). The RSI sequences on the 1W time-frame of the two periods are identical and it appears that we are currently headed for the Higher Low (green circle on the RSI) before testing the overhead Resistance Zone (red).
If the 2010/11/12 sequence continues to get repeated, then we should expect another two Resistance rejections and pull-backs before we convincingly break to a significantly Higher High.
That pattern shows that Chevron is in recovery mode already but the road will has its bumps along the way but we can take advantage of them by buying low and selling high.
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Rounded Top/XOM is a BuddyThis pattern can indicate a pullback and in some cases a reversal.
There are rising wedges below price on hourly and daily that have not been broken so these patterns are not valid.
One of the wedges can take this below 112 but it is not valid at this time.
Most oil stocks are well above rising wedges in their charts but oil moves together as a rule so even those who have no wedges, like DVN, will fall when this group falls.
Who knows? Not me.
No recommendation
Rounding Top/Symmetrical Triangle
Target 1 has been met. Targets 2 and 3 posted in case price goes above T1, being aware that other patterns form and things change.
There is also a W pattern that may or may not go further than the 1.113 but price has touched this Fib level.
Targets for the triangle could take this higher so I guess it is up to the market as there are conflicting patterns on this chart.
A rounding top is a chart pattern used in technical analysis identified by price movements that, when graphed, form the shape of an upside-down "U." Rounding tops are found at the end of extended upward trends can signal price reversal or a pull back. Not always.
Inverted cup and handle patterns are the inverse of their counterpart the cup and handle and look like a rounded top, but there would be a leg up soon to form a handle if this were an inverted cup. As a rule, inverted cups are a bearish pattern.
No recommendation.
For the shorter term trader, time can become an enemy )o:
Head & Shoulders in Chevron - Sell1. After a rally, Chevron completed a figure wich I find like a head & shoulders pattern. Two lower highs after the high of the head.
2. Oil is in a strong downtrend.
So I expect $CVX to go down in the next days.
Enter tomorrow at market.
Target: 164.50
SL: problem, too far. Maybe, put it slightly above the neckline at 176.00.
CVX dropSince I sold this counter, the share price drops a lot.
I am still monitor it, but the indicator show it still far away from support level, and another indicator Fortune Crown shows the weekly chart start to drop, so it is not recommend to buy.
Chevron - Oil decreasing & CVX rising?Dear all,
this Chart tries to show the interaction between Oil Price WTI & Chevron.
As you all know, Mr. Warren Buffett invested lot of money during last two years in this company.
As you also know, CVX sells also gaz, not only oil, and for shure - gaz still very high, but NOT on Top.
CVX only is near to top.
Then: Look at the indicators. Negative Divergence all over all, OBV not amazing(bad).
So, several reasons for one conclusion.
In my option CVX is overvalued by 25% during the next monthes
let me know YOUR opinion!
Regards, Dan 19.11.22
Symmetrical TrianglePrice has broken up from a triangle.
Price is above the bands.
74ish on RSI. Some use 70 as an Overbought signal on RSI. When a security is super bullish, some use 80.
Earnings tomorrow BMO
No recommendation.
Possible pull back soon if profit taking kicks in.
Security is borderline overbought going in to earnings.
Candle of indecision so far today.
Wyckoff Market Structure This signal is called Up thrust After Distribution which indicate the end of the up trend and strong signal of down trend!!! don't miss out this signal
Chevron Corporation
Small trade within Parallel Channel (Consolidation)
Trade with Stop Loss Until Channel top
Further Entry can be taken after Parallel Channel Breakout
CVX - Short term support and resistance1. Fortune_TD, Fortune Banker trend, Fortune Crown stage:
28 Sep 2022, Fortune TD 9 and Force 9 show the trend exhaustion range, the green bar on the previous day shows this is a potential share pull back. .
03 Oct 2022, Fortune Crown red dot reverse from bottom
03 Oct 2022, Fortune Banker trend, green line shows the banker chips flow in from 26 Sep 2022, then short money cross its 5 days average on 03 Oct 2022, potentially a reversal at the bottom.
2. Support and resistance:
the support is the lower price of share pull back signal (green bar), at 140.46.
The 1st resistance is the gap down on 10 Jun 2022, at 173.65.
4. Summary:
Based on above analysis, if the share price hit the resistance 173, and the buy point is 152, short term profit is approximate 11%. If there is no sell signal at the resistance level , then it will develop into main wave.
Disclaimer : no recommendation of buy/sell, purely for TA learning and sharing.
HD shortHome Depot closed between EMA's this week. After strong earnings they can not perform upside. I think it could be related with IV. for that reason HD need to consolidation. I think we could test november low's
Chevron Redux - Price Line Test AheadChevron MONTHLY Linear Scale
This 30 year price line has been breached 4 times since it's origin in 1992. Each time there has been a subsequent sharp reversal greater than 40%.
Earlier this summer there was a breach that resulted in a sharp and dramatic sell off. Thatwas a fantastic no brainer trade.
As you can see we are approaching this level again.
Short Set-up.....Wait for confirmation. I can't imagine it will be as straight forward as it was in June.
Will this pattern repeat... Does it pierce the line again or fail below it? Or..."Is it different this time"
