Betting the Farm?
Traders-
The market appears to be consolidating here at the highs. A nice bounce off my levels I shared about an hour ago in trade plan. Quite a few names are showing up on my radar , with promise. While the usual suspects like TSLA, V, AAPL, make new highs, some hitherto unknown names are also beginning to firm up…
Wanted to share two such names today, as promised..
The first of the duo is CVX..
Well actually CVX did not cross my radar today, I shared this a month ago at 115, it traded a new 52 week high today.
There are 2 distinct reasons I like these 2 names.
Let us focus on CVX first.
The company has been losing revenue from years now. I did not even know a name like CVX could be bullish. To explain this. my theory is the world productivity has been kept artificially suppressed by these fear mongers, these so called experts which have really decimated the production capacity all over the world.
My anticipation is the output is gonna pick up. Big time. Output needs input - labor, materials, oil. There is only so much Lithium ion batteries can do to move a 100 ton lathe machines or cold presses.
Chevron I think is in a good spot to capitalize on this. The stock is now trading 119 dollars.
It pays almost 5 dollar dividend as well :)
On the downside, this 120 is quite a bit of technical resistance. Will not be surprised if we find some fight with the bears here.