CHEVRON. The best company in the oil sector?I did manage to buy some shares @ $55-60. Next buy @ $30-40.
CHV trade ideas
Chevron downside targetsThanks for viewing,
After record (and very profitable) drops in Crude in the last few days, Chevron will be put under significant profitability pressure. Well, now we have dipped well below that due to:
- as yet unknown, but likely double digit reductions in global demand for crude oil,
- Russia not going along with the OPEC plan, which resulted in,
- Saudi Arabia (for some reason) discounting up to $6 per barrel and markedly INCREASING production,
- The stated aim of all this is to put higher US shale producers underwater - which may already be working.
It looks like there will be major pressure on all high cost oil producers (Saudi Arabia has an all in cost basis around $10 per barrel) for some time. I am not picking on Chevron especially - but considering their situation in light of their (and recently) likely break-even price above $40.
Where to from here? Probably a gap down when the markets open targeting below $72 in the short term, potentially much lower ($30 / share) if the price hangs around present (sub $30 per barrel) levels for any length of time. If Chevron gets that low, they make a lot of sense to pick up.
Any catalysts for a major price increase? Not while Iran is busy fighting their COVID-19 outbreak - they are likely too busy at the moment to continue their work destabilising oil refining and shipping in the middle east with drones and cruise missiles.
bubble goes popi plan on getting in here and i will place an order for this level. common pattern that usually breaks down and in this case id say it does unless some miracle happens.
CVX: short term long positionOn the hourly chart of CVX shares, the price has formed a bullish divergent bar. The signal is supported by double divergence on the AO indicator. Planning to go long using entry levels that are marked on the chart.
CVX CHEVRONI am reluctant to start adding ABC the 5 wave move because it needs more data to know if this ABC is part of an A (which means much more downside) or if this is ABC. The 5 wave count looks valid. Extended wave 1 in the count.
Oil stocks still a short as coronavirus crushes global demand.You can see from the chart that the price of Chevron (as one example) has declined in line with crude (WTI) price. However, you can also see the stocks tend to overshoot both on the upside and downside. This suggests there's more downside before the stocks bottom and can be bought.
CVX SHORT DCVX on Daily Chart, it brokes the channel and hit the target, Still, it's going down to reach the Wolf Wave target.
Lets see
CHEVRONPossible long 90,11 (low on Feb2020)
Why:
1. Angle 1x40c. Previous one 1x80c (base 5)
2. RSI Oversold and Stock Rsi Revverse
3. C_wave in area 1-1.272
SL. Break of 90,11
NYSE:CVX
Chevron Double Top - Short Chevron had a double top over the last few years and is declining - possible breakouts in the near future.
CVX weekly RSI reaches OversoldI'm not advocating the use of incomplete weekly candlesticks - BUT the 14 period Weekly RSI for Chevron (CVX) which makes up over 20% of the cap weighted S&P Energy ETF, has reached oversold territory for the 12th time in its history..
CVX: Chevron descending triangleI really don't like descending triangle for NYSE:CVX . I have fundamental analyst giving me a buy/hold signal but i am still cautious. This 139 weeks descending triangle might play out just be very careful and wait for confirmation before entry.
CHEVRON (CVX): Close To Key Structure
chevron is coming closer and closer to a key structure support level.
I would consider a buying opportunity from 103.0 level with a potential bullish reaction to 114 / 121 levels.
with a stop below the X the position will be protected against the volatility and occasional fluctuations!
good luck!
Buy point at 97.12 for long run investmentStock might slide at 97.12 making a good opportunity to buy for long run.
Long Idea9/Feb/2020 12:47 PM AUTHOR: Brandon Gum
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Oil's likely to mean reverse. May be more advantageous to be in high beta energy equity.
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Go long on CVX.Wall Street analysts see Chevron reporting earnings of $1.45 per share on revenue of $39.25 billion.
In the same quarter last year, Chevron reported EPS of $1.95 on revenue of $42.35 billion. If the company were to post earnings inline with the consensus estimate when it reports Friday, EPS would be down 25.64%. Sales would have fallen 7.32% from the same quarter last year. Chevron's reported EPS has stacked up against analyst estimates in the past like this:
$CVX Long$CVX Long. Horizontal support + possible spring (stops taken) + RSI overslod + bullish divergence with RSI. Chevron Corporation is expected* to report earnings on 01/31/2020 before market open.
Potential short-term long, OIL stocks could pushOil stocks took a hit this last week. If price holds the uptrending support expect a push and retest of resistance. If support is broken, a push to the downside is likely.
Chevron Corp swing trade ideaChevron Corp -
Breakout to $133 or breakdown to $103?
The price likely has a bullish trait as support awaits at approx $115.
I favour the bullish movement upwards right now as the upwards trending (green dotted) support line awaits price. However, as always, wait for price action to form to provoke your next trade move here.
Enjoy your weekend and have a great trading week ahead.
All comments welcome.
Bullish CVXA nice opportunity from current levels with CVX. Expecting a bullish move to develop early this week with the potential of a 5% move.
Levels of interest...
1st level - 117.16
2nd level - 117.92
3rd level - 120.60
4th level and main objective - 122.72
$CVX breaking outpotential slanted inverse head and shoulders reversal pattern on $CVX
first take profit target is at $127.35 then next would be the measured move at around $134
Chevron Grinds Out a Higher Low as Energy Starts to MoveCrude oil is pushing back to its highest levels since September's drone attacks in Saudi Arabia. Energy stocks are following. The sector's the worst performer by far on a year-to-date basis. But in the last two weeks, the SPDR Energy Fund is leading all the other major SPDR tracking funds.
Chevron is the second-biggest company in XLE behind Exxon Mobil . Just as its bigger peer has been holding support at $67, CVX has been grinding out a higher low at $116. (See related XOM idea .)
The chart doesn't yet show a clear trend forming. However, the wider backdrop of oil trying to bottom creates a potentially interesting risk/reward to the upside if traders use $116 for risk-management.
Recapping the energy space, OPEC deepened its oil-production cuts by 500,000 barrels per day last week. Two days ago, the cartel forecast a crude deficit for 2020. Drilling in the U.S. has also dropped to its lowest levels in 2-1/2 years. Furthermore, two major geopolitical risks are fading: China and the U.S. have a trade deal and Boris Johnson's victory in the U.K. provides clarity about the direction of Brexit.
