Dec. 6 at 1:20 AM
Actionable Trade Alert for
$CVX:
Market Context:
$CVX is currently trading at
$152.26, showing a neutral to slightly bearish momentum indicated by an RSI of 41.46. With the price below both the 30-day MA (153.34) and the 50-day MA (153.65), there is potential for a reversal or further decline. The recent 60-day high of
$161.30 and low of
$147.74 suggests a range-bound market.
Directional Bias: The RSI indicates that
$CVX is approaching oversold territory, which may present a buying opportunity. However, caution is warranted due to the recent bearish trend.
Trade Plan:
- Suggested Entry:
$152.50
- Stop Loss:
$147.50 (approximately 3% below entry)
- Take Profit Targets:
1. Target 1:
$157.00 (3% gain)
2. Target 2:
$160.00 (5% gain)
3. Target 3:
$178.00 (17% gain)
This trade plan positions for potential upward movement while managing risk effectively.
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