Buying CVX on All-Time-High Breakout
We will buy Chevron Corporation (NYSE:CVX) with a stop buy order at $126.4 and an initial stop loss below $120. No market order should be used on this trade as we want to see the stock breaking above its All-Time-High.
Extreme Technical Bullishness & Price Target
The $CVX price chart – adjusted for dividend – shows an All-Time-High at $126.38. The Chevron Corp. stock is trending up and is dynamically supported by crossover / non-crossover events (green circles on the chart) on the presented daily + weekly + monthly time frames.
CVX Multiframe Price Chart, Adjusted for Dividends,
by the Weekly Close on July 12th 2019
Daily (left) – Weekly (middle) – Monthly (right)
If the trade is activated we will target a share price of $150.
Real Time Price Chart
The CVX weekly price chart here below is shown for follow-up purposes but it is not adjusted for dividends, reason why it does not appear to be close to breaking above the previous all-time-highs.