Dear subscribers, lets come together to discuss Chevron.
CVX
The American oil industry and it's major companies are currently very interesting.
Some time has passed since the collapse of the oil price and the massive drops in companies like Chevron or Exxon Mobil.
In the past year those stocks as well as the oil price have rallied tremendously and Chevron has literally experienced a price explosion.
Now we have spotted a very important chart formation in the Chevron stock, a so-called "Rising Wedge", which marks a major trend reversal according to the Elliot Wave Theory.
From the image shown on the left, you can see the 1-2-3-4-5 movement and the following correction in wave II.
We now have reason to believe that Chevron is in the last breaths of its rally and is on the verge of a massive price collapse.
In that case, wave II could set us back to prices in the $88 to even $67 range.
In this correction, it is highly recommended to remain calm and take advantage of this rare opportunity.
Because after this correction will be completed we will see prices above 200$ over the next years.
In addition to that, Chevron is an extremely attractive stock due to its very high dividend.
Disclaimer:
According to legal regulations, Mornau-Research is not a certified or legally recognized financial advisor and any transactions based on published content are at your own risk.
Mornau-Research cannot be held liable for any losses whatsoever according to the legal regulations in it's country of residence.
We are not the original creators of the image shown, the following link provides the place of origin of it.
anzforextrader.blogs...es-motive-waves.html
================================================================================================================
If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact us.
CVX
The American oil industry and it's major companies are currently very interesting.
Some time has passed since the collapse of the oil price and the massive drops in companies like Chevron or Exxon Mobil.
In the past year those stocks as well as the oil price have rallied tremendously and Chevron has literally experienced a price explosion.
Now we have spotted a very important chart formation in the Chevron stock, a so-called "Rising Wedge", which marks a major trend reversal according to the Elliot Wave Theory.
From the image shown on the left, you can see the 1-2-3-4-5 movement and the following correction in wave II.
We now have reason to believe that Chevron is in the last breaths of its rally and is on the verge of a massive price collapse.
In that case, wave II could set us back to prices in the $88 to even $67 range.
In this correction, it is highly recommended to remain calm and take advantage of this rare opportunity.
Because after this correction will be completed we will see prices above 200$ over the next years.
In addition to that, Chevron is an extremely attractive stock due to its very high dividend.
Disclaimer:
According to legal regulations, Mornau-Research is not a certified or legally recognized financial advisor and any transactions based on published content are at your own risk.
Mornau-Research cannot be held liable for any losses whatsoever according to the legal regulations in it's country of residence.
We are not the original creators of the image shown, the following link provides the place of origin of it.
anzforextrader.blogs...es-motive-waves.html
================================================================================================================
If you have questions related to a specific stock or the Elliot Wave theory, feel free to contact us.
If you should have any questions regarding our analysis or elliot wave counts feel free to contact us.
The elliot wave structure has changed since then but our price targets were reached.
Promise made - promise kept!