$CVX Has the bleeding stopped? A rebound signal looms on the horizon!
Current price: $2.701
Daily change: +1.27%
Lowest price in 24 hours: 2.530
Volume: Relatively low
Technical analysis:
RSI = 31.56 → Very close to the oversold area → Very likely to rebound soon.
Bollinger Bands: The price touched the lower limit and started to rebound → A technical opportunity to enter.
MACD: Still in the negative trend, but the downward momentum is beginning to weaken.
Technical levels:
Strong support: 2.53 – 2.58
Resistance: 2.94 then 3.10
Smart trading strategy:
🔹 For professional risk-takers:
Entry: Between 2.65 – 2.70
Stop loss: Below 2.52
First target: 2.94
Second target: 3.20
🔸 For the conservative:
Wait for a daily candle close above 2.80 with high volume to confirm the reversal.
Question:
Do you think CVX has entered a bullish reversal phase or is further decline still coming?
Share your opinion 👇
