Well, OXY outbid them on Anadarko, but the market seems to be cheering CVX for that. They're posing a strong rally against the current market headwinds, and volume spiked yesterday along with a solid 3.14% earnings. The MACD histogram just broke positive, so the MACD may break positive soon after if this holds. DM+ just crossed over DM-, and RSI just crossed above 50. You may want to wait for more confirmation, but you also might be missing out on the post-earnings announcement drift on this one if you wait too long. Money flow is still negative but rising, so the big money players are eyeing Chevron as a haven to weather this looming correction.
Trade closed manually:
I let it go. I was uncertain about it because CVX does look like it could stage a comeback, but I'm more comfortable putting my dollars in better places.