Dec. 8 at 10:19 PM
Actionable Trade Alert for
$CVX:
Market Context:
$CVX is currently trading at
$148.79, showing bearish momentum as indicated by an RSI of 33.31, suggesting it is oversold. The price is below both the 30-day (152.9) and 50-day (153.21) moving averages, reinforcing a downward trend. The 60-day high is at 161.3, while the low is at 147.74, indicating a tight range.
Directional Bias: Given the current RSI and the price being near the 60D low, a potential reversal could occur, providing a buying opportunity.
Trade Plan:
- Suggested Entry:
$149.00
- Stop Loss:
$146.50 (1.68% below entry)
- Take Profit Targets:
1.
$155.00 (4.03% gain)
2.
$158.00 (6.06% gain)
3.
$174.00 (16.81% gain)
With a conservative approach, this setup offers a potential ROI of over 17% on the third target while maintaining a manageable risk.
Stay vigilant and trade wisely. https://privateprofiteers.com