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4 Trade Ideas for Chevron: Bonus Idea

Chevron, $CVX, comes into the week at the 200 day SMA and short term resistance. This is after a move up from the 38.2% retracement of the move from the COVID low to the 2022 high. It has a RSI rising in the bullish zone with the MACD positive and moving higher. There is resistance at 150 and 152 then 156 and 161.25 before 163 and a gap to fill to 166 then 169. Support lower is at 147 and 142.75. Short interest is moderate at 3.6%. The stock pays a dividend with an annual yield of 4.57% and has traded ex-dividend since May 19th.

The company is expected to report earnings next on July 31st. The July options chain shows biggest open interest at the 145 and 140 put strikes and on the call side at the 105 then 155 strikes. In the August chain open interest builds from the 150 put strike to a peak at 135 then fades to 115. On the call side it is biggest at 150 then 170. Finally, in the September chain there is large open interest from 155 to 105 on the put side, biggest at 110 then 115 and 155. On the call side it is biggest by far at 155.

Trade Idea 1: Buy the stock on a move over 150 with a stop at 145.

Trade Idea 2: Buy the stock on a move over 150 and add a July 145/140 Put Spread ($1.27) while selling the July 160 Call (91 cents).

Trade Idea 3: Buy the July/August 155 Call Calendar ($2.26) while selling the July 145 Puts ($2.00).

Trade Idea 4: Buy the September 140/150/160 Call Spread Risk Reversal (5 cents).

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Elsewhere look for Gold to continue its uptrend while Crude Oil joins it with a short term trend higher. The US Dollar Index continues a short term move to the downside at 3 year lows while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets may be stalled in their break to the upside.

The Volatility Index looks to continue in the normal range making life easier for equity markets to the upside. Their charts show short term strength on the longer timeframe with possible digestion in the shorter timeframes. The IWM continues to lag the SPY and QQQ in recovery in price. The classic “V” recovery continues to build in all 3 Index ETFs as the SPY and QQQ hold just shy of their all-time highs but with possible short term pauses. Use this information as you prepare for the coming week and trad’em well.

#$CVX

5 Trade Ideas for Monday: Chevron, DaVita, Fidelity National Info, MongoDB and Snowflake

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week pulling back to support. It has a RSI falling in the bullish zone with the MACD positive. Look for a break of support to participate…..

DaVita, Ticker: $DVA

DaVita, $DVA, comes into the week at resistance. It has a RSI in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..

Fidelity National Information Services, Ticker: $FIS

Fidelity National Information Services, $FIS, comes into the week pushing on resistance. The RSI is in the bullish zone with the MACD positive. look for a push higher to participate…..

MongoDB, Ticker: $MDB

MongoDB, $MDB, comes into the week pushing on resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation higher to participate…..

Snowflake, Ticker: $SNOW

Snowflake, $SNOW, comes into the week moving higher. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with just 2 trading days left in January, saw equity markets showing strength as they move higher. And with the Santa Claus Rally and 1st Five Days of January both positive is seems a lock that there will also be a Positive January to have all 3 indicators align to set up a positive performance indication for all of 2023.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside while US Treasuries consolidate the bounce in their downtrend. The Shanghai Composite comes back from holiday looking to continue the move higher while Emerging Markets continue to enjoy an uptrend.

The Volatility Index looks to remain normal and stable making the path easier for equity markets to the upside. Their charts look strong on both timeframes. On the shorter timeframe both the QQQ and IWM are making higher highs, with the SPY and QQQ now over their respective 200 day SMA’s. On the longer timeframe the SPY and QQQ are also over falling trend resistance that has held them all of 2022. All are starting to look a lot more bullish. Use this information as you prepare for the coming week and trad’em well.

#$CVX #$DVA #$FIS #$MDB #$SNOW

5 Trade Ideas for Tuesday: Aflac, Coty, Chevron, Interactive Brokers and Tractor Supply

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Aflac, Ticker: $AFL

Aflac, $AFL, comes into the week moving higher after a digestive pullback. The RSI is rising in the bullish zone with the MACD about to cross up. Look for a new high to participate…..

Coty, Ticker: $COTY

Coty, $COTY, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week moving higher. It has a RSI rising through the midline with the MACD crossing up. Look for continuation to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week moving higher. The RSI is rising at the midline with the MACD about to cross up. Look for continuation to participate…..

Tractor Supply, Ticker: $TSCO

Tractor Supply, $TSCO, comes into the week moving higher. It has a RSI in the bullish zone with the MACD turning up. look for continuation to participate…..

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with 4 trading days left in 2022, saw equity markets showed some divergence. The SPY and IWM put in consolidation weeks, saved by end of week moves higher while the QQQ continued to move lower and is approaching a retest of the year’s low.

Elsewhere look for Gold to consolidate around 1800 while Crude Oil consolidates in the downtrend. The US Dollar Index looks to pause in the downtrend while US Treasuries resume the move lower. The Shanghai Composite looks to have reversed to a short term downtrend while Emerging Markets consolidate.

The Volatility Index looks to remain in a normal range making the path easier for equity markets to the upside. Their charts continue to look weak, especially the QQQ on the longer timeframe. On the shorter timeframe both the IWM and SPY are trying to consolidate and possibly put in a bottom, while the QQQ diverges as it continues lower. Use this information as you prepare for the coming week and trad’em well.

#$AFL #$COTY #$CVX #$IBKR #$TSCO

4 Trade Ideas for Chevron: Bonus Idea

Chevron, $CVX, comes into the week flagging after a fall from support. It is now back below the 200 day SMA. The pause brought the price back within the Bollinger Bands® and it now has a falling RSI in the bearish zone and MACD negative and dropping to deal with. There is support at 140.50 and 139 then 132.50 and 123.50. Resistance higher sits at 145.75 and 150 then 152.75 and a gap to fill to 154.75 before 158.50 and 160. The stock pays a dividend with a 3.95% annual yield and has been trading ex-dividend since August 18. The company is expected to report earnings on October 27.

The October monthly options chain shows the largest open interest at the 160 strike on both the put and call side, then 135 and 140 on the put side followed by 155 on the call side. In the October 28 Expiry chain, the first to cover the earnings report, the at-the-money straddle is pricing in a 12.50 move or 8.7% from the current price. It has biggest open interest at the 148 put strike. November options show open interest spread from 125 to 155 and then again at 105 on the put side. On the call side it's spread from 150 to 185.

Chevron, TIcker: $CVX

Trade Idea 1: Sell the stock short on a move under 140.50 with a stop at 145.

Trade Idea 2: Sell the stock short on a move under 140.50 and add an October 145/150 Call Spread ($2.40) while selling the October 130 Put ($1.35).

Trade Idea 3: Buy the October 140/130 Put Spread ($2.40).

Trade Idea 4: Buy the October 135/125/120 Broken Wing Put Butterfly ($1.25).

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Elsewhere look for Gold to continue its pullback while Crude Oil continues to move lower. The US Dollar Index continues to trend to the upside while US Treasuries pullback in their downtrend. The Shanghai Composite looks to continue the move lower while Emerging Markets accelerate to the downside.

The Volatility Index looks to remain elevated and heading higher making the path easier for equity markets to the downside. Their charts look weak, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY have now set new lows and still look weak. The IWM exhibited relative strength on the week, holding in consolidation. This was the first week since April that all 3 did not move in tandem. Use this information as you prepare for the coming week and trad’em well.

#$CVX

4 Trade Ideas for Chevron: Bonus Idea

Chevron, $CVX, comes into the week consolidating in a symmetrical triangle. This comes after a reversal off the 38.2% retracement of the post pandemic move in July. It has now retraced 50% of that drop. The target move out of the triangle, if to the upside, would be a full retracement back to the all-time high. The RSI is running sideways in the bullish zone with the MACD flat and positive.

There is resistance at 160 and 163.75 then 170 and 171.75 before 174 and 180.75. Support lower comes at 155.25 and 152 then 150. Short interest is low at 1%. The stock pays a dividend with an annual yield of 3.60% and started trading ex-dividend August 18th. The company is expected to report earnings next on October 27th.

The September options chain shows biggest open interest at the 150 and 140 strikes on the put side and at the 165 and 175 strikes on the call side. October open interest is biggest at 135 on the put side and 170 on the call side. And in November the open interest is biggest at 150 and 125 on the put side, while at 170 and 175 on the call side.

Chevron, Ticker: $CVX

Trade Idea 1: Buy the stock on a move over 160 with a stop at 155.

Trade Idea 2: Buy the stock on a move over 160 and add a September 155/150 Put Spread ($1.70) while selling the October 180 Call ($1.45).

Trade Idea 3: Buy the September/November 170 Call Calendar ($4.45) and sell the October 135 Put ($1.70).

Trade Idea 4: Buy the November 140/160/175 Call Spread Risk Reversal ($1.90).

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Elsewhere look for Gold to continue its downtrend while Crude Oil also continues to trend lower. The US Dollar Index continues to drive to the upside while US Treasuries resume their downtrend. The Shanghai Composite looks to consolidate between short term and resistance and long term support while Emerging Markets resume their move lower.

The Volatility Index looks to remain in the normal range taking some pressure off of equity markets and allowing them to move to the upside. Their charts look strong on the longer timeframe, but still shy of a long term reversal. On the shorter timeframe the QQQ, IWM and SPY are getting a nice reset lower on the momentum measures. As long as they can print higher lows the nascent uptrend should remain. A lower low would deflate the optimism out of the markets. Use this information as you prepare for the coming week and trad’em well.

#$CVX

5 Trade Ideas for Monday: Bristol-Myers, BP, Clorox, Chevron and Northrop

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week pressing against resistance in a bull flag. The RSI is rising in the bullish zone with the MACD leveling and positive. Look for a push through resistance to participate…..

BP, Ticker: $BP

BP, $BP, comes into the week at resistance. The RSI is rising in the bullish zone with the MACD positive and moving up. Look for a push over resistance to participate….

Clorox, Ticker: $CLX

Clorox, $CLX, comes into the week pushing above resistance. It has a RSI rising in the bullish zone with the MACD lifting and positive. Look for continuation to participate…..

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week moving higher towards resistance. It has a RSI rising in the bullish zoner and a MACD crossing up and positive. Look for continuation to participate…..

Northrop Grumman, Ticker: $NOC

Northrop Grumman, $NOC, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD crossed up and rising. Look for a push through to participate…..

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Elsewhere look for Gold to pullback while Crude Oil may resume the uptrend. The US Dollar Index continues to the upside while US Treasuries trend lower. The Shanghai Composite looks to continue lower while Emerging Markets trend to the downside.

The Volatility Index looks to remain elevated making the path easier for equity markets to the downside. Their charts also look weak, especially on the longer timeframe. On the shorter timeframe both the QQQ and IWM are also weak and look better lower. The SPY sits at support though with a breakdown would join them lower. Use this information as you prepare for the coming week and trad’em well.

#$BMY #$BP #$CLX #$CVX #$NOC

4 Trade Ideas for Chevron: Bonus Idea

Chevron, $CVX, started higher out of consolidation at the start of the year. Three days later it had finally retraced the pandemic drop and kept going to a top in mid-January. It dropped back to retest the pre-pandemic price level and held, reversing higher. It comes into the week in a short consolidation at the all-time high. The RSI is strong in the bullish zone with the MACD flat but positive.

The Bollinger Bands® are pointing higher. There is no resistance above 139.50 but he 138.2% extension of the retracement of the pandemic drop comes at 150. There is support at 135.50 and 130 then 126.50. Short interest is low at 1.2%. The stock pays a dividend with an annual yield of 4.09% and begins trading ex-dividend on Tuesday. The company is expected to report earnings next on April 28, 2022.

The February options show largest open interest at the 145 strike above and then the 130 below on the put side. On the call side it is massive at the 135 call. In the March options the there is a plateau from 90 to 130 and then very large size at 135 on the put side. On the call side it is large and focused from 125 to 145. The May options are the first to cover the next report and show biggest open interest at the 125 put strike and from 125 to 140 on the call side, but these are just starting to build.

Chevron, Ticker: $CVX

Trade Idea 1: Buy the stock on a move over 140 with a stop at 135.

Trade Idea 2: Buy the stock on a move over 140 and add a March 135/125 Put Spread ($2.75) while selling the May 155 Call ($2.30).

Trade Idea 3: Buy the March/May 145 Call Calendar ($2.95) and sell the April 125 Put ($2.20).

Trade Idea 4: Buy the May 125/140/150 Call Spread Risk Reversal (15 cent credit).

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Elsewhere look for Gold to continue to rise in consolidation while Crude Oil trends higher. The US Dollar Index continues to drift to the upside while US Treasuries pullback. The Shanghai Composite looks to continue to consolidate while Emerging Markets continue to trend lower.

The Volatility Index looks to remain elevated and biased higher putting a roadblock in the path of equity markets chances of moving to the upside. Their charts look weak, especially on the shorter timeframe, with the QQQ leading the SPY to the downside, but the IWM holding. On the longer timeframe the IWM is also outperforming with the QQQ looking worse than the SPY. Use this information as you prepare for the coming week and trad’em well.

#$CVX

4 Trade Ideas for Chevron: Bonus Idea

Chevron, $CVX, started to move lower in a falling wedge in March. It found support as it retraced 38.2% of the total move higher from the end of October. It broke the wedge to the upside 2 weeks ago and ended last week in consolidation. The Measured Move is to 108. The RSI is rising in the bullish zone with the MACD rising and positive.

There is resistance at 104.50 and 107.50 then 111 then 113. Support lower comes at 101.25 and 100 then 95.75. Short interest is low under 1%. The stock pays a dividend with an annual yield of 5.14% and has been trading ex-dividend since August 18th. The company is expected to report earnings next on October 29th.

The October options chain shows the largest open interest at the 100 and 97.50 strikes on the put side, and at 100 and 105 on the call side. The October 29 Expiry options have open interest focused at the 100 and 109 call strikes and at low on the put side. The November options show open interest build from 105 down to a peak at 90 and 85 on the put side. On the call side it is focused between 100 and 110.

Chevron, Ticker: $CVX

Trade Idea 1: Buy the stock on a move over 104.50 with a stop at 100.50.

Trade Idea 2: Buy the stock on a move over 104.50 and add an October 29 Expiry 104/99 Put Spread ($1.80) while selling the November 110 Calls ($1.78).

Trade Idea 3: Buy the October 22 Expiry/November 110 Call Calendar (1.18) and sell the October 29 Expiry 98 Puts ($1.10).

Trade Idea 4: Buy the November 97.50/105/115 Call Spread Risk Reversal (90 cents).

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Elsewhere look for Gold to consolidate while Crude Oil consolidates in an uptrend. The US Dollar Index continues to trend higher while US Treasuries pullback. The Shanghai Composite looks to continue in consolidation while Emerging Markets trend lower but are at support.

The Volatility Index looks to at moderate levels making things more difficult for equities to improve. Their charts remain mixed with the SPY and QQQ strong with digestive pullbacks on the longer timeframe, but in downtrends on the shorter timeframe. The IWM remains in its long sideways consolidation. Use this information as you prepare for the coming week and trad’em well.

#$CVX