CVXD trade ideas
CVX - Another Over Extended Oil Stock What a shocker..... Another over extended oil company stock.
This is a WEEKLY chart
What do we do with these? Clearly the entire sector is reaching historically significant price levels.
This stock charts out very nicely. There is currently an overshoot to the ascending trendline that has contained price advance in it's history.
Because there is a special situation impacting prices this post is meant to show historical significance.
Obviously a selling situation but don't jump in front of a freight train. Do with it what you will.
cvx/tsla and tsla/spxLooking at oil v tsla and tsla v spx
Just an observation, CVX/TLSA (top) had a double bottom at .10 - during this time, tsla made new highs relative to SPX(bottom)
Interestingly tslaspx is headed towards new highs it looks like while CVX/TSLA is hovering around 0.15
The fact TSLA was 9% higher due to a stock split is laughable, and shows just how absurd these markets are.
I think the trend of CVX/TSLA is just getting started...from a longterm perspective it really cant get much more exhausted and finally people are waking up to how important oil still is in context of global energy.
Ascending Triangle in ChevronEnergy remains the top performing sector this year , and today we’re looking at integrated major Chevron.
Notice the series of higher lows since late April. Combined with the March 10 high of $174.76, they form an ascending triangle. It’s a potential continuation pattern that may open the door to higher levels following CVX’s breakout to new record territory in February.
Second, prices consolidated on either side of the 50-day simple moving average (SMA) before closing at a new all-time high yesterday. That is also suggests the bullish trend remains intact.
Third, MACD has turned positive after 1-1/2 months of pulling back.
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Rectangle TopThis is a neutral pattern until a trendline is broken with a trend in that direction.
Possible targets for a break to the upside in white type are over the Rectangle TOP. Targets to the downside are in orange type below price. The larger orange type are possible targets 1. The smaller, and even smaller orange type are possible targets if targets 1 are passed. Targets 1 will more than likely be passed if/when this rectangle breaks down.
No recommendation.
There is a Rising wedge below price that is not valid as the lower trendline has not been broken.
Long line of green candles so there is a lot of buyers on board.
Chevron Volume Profile 📊 and Price action analysis 📋On Chevron is nice to see strong buying reaction from the price 137 , there is nice to see strong volume area....
Where is lot of contract accumulated...
I thing that buyers from this area will be defend this long position...
and when the price come back to this area, strong buyers will be push up the market again...
Resistance from the past + Uptrend + Strong volume area is my mainly reason for this long trade....
Happy trading
Dale
$200 CVX ?Chevron has confirmed the resistance channel structure which it broke several weeks ago is now acting as solid support.
As long as CVX continues to settle on a weekly basis above the BLUE channel structure which it retested last week, $200 isn't out of the question.
Especially on the back of crude oil strength if the energy market stays strong, CVX will in fact continue to benefit from the underlying sector rally.
Timing ... 3 - 5 months? I'd be considering a call option 6 with a 6 - 9 month expiration from now if I was going that route.
As always, time will tell ... but I like the setup!
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$CVX GET READY FOR TAKE OFF!!!! BreakOut Bull Flag?
Is Chevron (CVX) a Solid Growth Stock? 3 Reasons to Think " Yes "
Zacks Equity Research April 13, 2022
CVX
Trades from $1
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Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. But finding a growth stock that can live up to its true potential can be a tough task.
In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.
However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.
Chevron (
CVX - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.
Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.
Here are three of the most important factors that make the stock of this oil company a great growth pick right now.
Earnings Growth
Arguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.
While the historical EPS growth rate for Chevron is 2.7%, investors should actually focus on the projected growth. The company's EPS is expected to grow 82.5% this year, crushing the industry average, which calls for EPS growth of 71.7%.
Cash Flow Growth
Cash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.
Right now, year-over-year cash flow growth for Chevron is 75.2%, which is higher than many of its peers. In fact, the rate compares to the industry average of 47.7%.
While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 9.5% over the past 3-5 years versus the industry average of 7.9%.
Promising Earnings Estimate Revisions
Superiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
There have been upward revisions in current-year earnings estimates for Chevron. The Zacks Consensus Estimate for the current year has surged 15.9% over the past month.
Bottom Line
Chevron has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
This combination positions Chevron well for outperformance, so growth investors may want to bet on it.
CVX breaking out After days of tight price action, CVX finally breaking upwards to ATH. Watching cross of 175 with relative volume to see if rally can continue. Keep in mind, we are getting closer to travel season (summer) where demand for gas will be at its highest. CVX can keep staging massive strength rallies.
