Chevron (CVX) has been trading within a Channel Down since the November 14 2022 market High. Having currently broken below both its 1W MA50 (blue trend-line) and 1W MA200 (orange trend-line), with the two having formed a 1W Death Cross, the pattern has already started its new Bearish Leg.
There is a high symmetry between all 4 previous major Bearish Legs, which ranged from -18.71% to -21.83%, so based on the -18.71% minimum, we are expecting the stock to reach at least $132.00 by early Q2 2026. This would also make direct contact with the 1M MA100 (red trend-line), the market's next major Support level.
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There is a high symmetry between all 4 previous major Bearish Legs, which ranged from -18.71% to -21.83%, so based on the -18.71% minimum, we are expecting the stock to reach at least $132.00 by early Q2 2026. This would also make direct contact with the 1M MA100 (red trend-line), the market's next major Support level.
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. **
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I trade Crypto, Forex, Indices & Commodities on PrimeXBT — all from one account with TradingView charts 👉 tradingshot.short.gy/PrimeXBT
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
I also use TradeNation for fixed spreads & zero commission 👉 tradingshot.short.gy/Tradenation
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.