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.
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.
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.
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.
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.
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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