šØ $CVX SURGE ALERT: A Potential Breakout Opportunity! šØ
$CVX is showing strong momentum, currently trading at $7.14, up a significant 33.41% in the past 24 hours. The price is near its 24-hour high of $7.448, signaling heightened activity and a possible breakout. The EMAs (7, 25, and 99) confirm a bullish trend, with consistent upward momentum.
Key Levels to Watch:
š§ Resistance: $7.45
A breakout above this level could trigger another strong rally, targeting the next resistance levels.
š Support: $5.98
If the price retraces, $5.98 serves as a critical support level to maintain bullish momentum.
Targets:
1. $7.90 ā First upward target if the breakout above $7.45 is sustained.
2. $8.50 ā Mid-term resistance level where traders may start locking profits.
3. $9.00 ā Ultimate bullish target for an extended rally, marking a psychological resistance zone.
Technical Overview:
The strong upward movement, supported by robust volume, indicates increasing buyer confidence. However, failure to break $7.45 may result in consolidation or a pullback toward $5.98.
ā ļø Note: Use tight stop-losses to manage risks, as volatility remains high.