CVX trade ideas
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.
Chevron Corporations, week#27No confirmation yet
We make a move if it breaks $158.58
Or declining to $155.20
CVX to find buyers at current support?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.
Our profit targets will be 160.33 and 162.33
Resistance: 155.00 / 157.00 / 160.77
Support: 152.00 / 149.74 / 148.00
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CVX could see a potential rise, possible tradeNYSE:CVX has been recently undersold the past few days, unfortunately I do not see a bullish 38.2% candle (hammer candle) unlike how I saw it on the recent small bull run, the price of the stock has hit a low-ish 52 week low at $150~ compared to the $130~. Liquidity is sitting on it's current price and at ~$170. I am aiming for $160 and will sell, I also have my stop loss at $148~
Chevron Corporation Inc., Week#26Not in accumulation mode, not even close
Hopefuly next week it's price close above $158.68
CVX summer/fall energy harmonicHarmonic has hit target 1 on a type 1 reaction, completed a type 2 return, gearing up for a longer-term reversal here to T2 on a type 2 reversal for this summer to the upper fibs noted by green target area. Stop below the nominal local lows.
Chevron Corporation, week#25It was hard to break $158.58, previous week.
Hope next week will be better.
Short it, if it breaks $155.20
$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 40%.
CVX ChevronChevron broken H&S neckline, retesting and holding as resistance, look left PT 104 last area of consolidation, also vol profile shelf. Risk to Reward favors a trade risking a daily close above neckline recovery
CVX - Bullflag PotentialA flag like formation.
This could either break out really nicely.
However if it doesn't break out it is out of the fault of a double top.
CHEVRON Stock Chart Fibonacci Analysis 05022Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 159/61.80%
Chevron Corporation Long position good return stockHi every one
you can invest in chevron corporation to get good profit
If you plan buy then you can best return
ask anything if you want to know more
CVX - Continuation Pattern Above Trend LineAn idea for CVX showing similar double bottom formations in a strange sort of inverted H&S way.
If you do consider this a H&S we just experienced the right shoulder, following this is a bullish period, hence my continuation assumption in green bars pattern.
Thicker Trendline is a longer term trend line
CVX = Long Set-Up I'm bullish on WTI and the energy sector in general at this level.
I like Chevron which is close to my buy point for a fifth wave to new highs.
Chart pretty much says it all. Wait for it. It needs to find at bottom at the confluence of trendlines on the chart.
I'll update as needed in the near future
CHEVRON Stock Chart Fibonacci Analysis 032823Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 158/61.80%
CHEVRON Stock Chart Fibonacci Analysis 031123 1) Find a FIBO Slingshot
2) Check FIBO 61.80% level
3) Entry Point > 160/61.80%
CVX bouncing at resistance level, just a posibility $CVXCVX is right now at an important support level, with the WTS reaching the oversold zone. In my opinion, price bouncing is really appealing with the market bottom indicator in green. I would like to wait a bit to look if the price breaks the support and return or if it breaks it definitely.
Let's see.
EW analysis - CVX gathering new strength or loosing steam?In the short run we will probably see rising prices in the gas and oil markets.
Can energy companies like Chevron benefit from that expected movement?
It is not easy to tell. This year so far the performance was quite meager.
But in the near future we should see an upward move in CVX.
The only question is, whether it is a final move without much steam or the beginning of a large wave 5 that could lead to a DOUBLING of prices.
At the moment I prefer the second interpretation. Then would we have seen is a double 1 - 2 as illustrated in the chart.
The alternative would be an expanding ending diagonal as illustrated in the chart below. In both cases we should soon see a move to the upside. But in the case of an ending diagonal the gains would be capped somewhere between 210 an 220 USD.
At the moment I favor the first interpretation (double 1 - 2).
Pros:
Both upward moves look impulsive they can be counted as five waves
I expect the general market as represented by the S & P 500 to appreciate big time
Energy prices will climb in the near time
Wave 5 in a commodity related stock often expands and is the largest wave
Cons:
CVX profited from high energy prices due to the Russian-Ukrainien war last year
Green energy an ESG could become a problem for CVX
Higher energy prices will not be sustainable in the long run
An ending diagonal in a commodity related stock is rare.
CHEVRON Stock Chart Fibonacci Analysis 021923Trading Idea
1) Find a FIBO slingshot
2) Check FIBO 61.80% level
3) Entry Point > 167/61.80%
