Stock Technical Analysis: Chevron Corporation (CVX) -157
Trade Setup: CVX is trading in a rising wedge technical pattern and it may continue to rise further towards higher levels as the market sentiment is strongly bullish. There is also an EMA support at current levels which helps this stocks to bounce from current levels. RSI is also into bullish trend and stock will follow up till the next resistance level of 162 & 165.
Entry: If this stock takes reversal from this trendline resistance then wait for bullish breakout confirmation. Enter only above 158 level.
Stop Loss: Keep the SL at its EMA support levels and must keep trailing as price move upwards.
Target: You can book half of your profits around 164 and keep trailing the remaining position for higher profits.
Please note this is only an opinion and not financial advice.
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