MU gapped up to $328 then dropped to $309.72 where the trade was mapped. CVX fell to $159.35 and hit targets at $160.69 and $159. Both stocks bounced back on heavy volume.
Chapters
Good afternoon, traders. It's Monday, January 5th at 2:56 PM. Let's review our trade setups we had for today. We had MU, Micron Technologies, and CVX for Chevron. So MU, looking up here, we gapped up, pulled back into the previous day's candle, but we were bullish above $326, bearish below $322. The $326 Occurred pre-market and it shot up, hit a target here at, uh, $328, and then it started pulling back. So $322, we were bearish below, and that got us in pretty much at the open. Look at this. So it came all the way down here to $309.72, which was end of the road. That's as far back as we had mapped it out to. So there was a $200K print around here as well, and it being close to the $310 Level. So let's see what happens. Is this going to continue up? Maybe we're pulling back to go higher. Let's see what actually happens in the coming days. Let's look at Chevron, CVX. Okay, so this one had gapped up. Look at this, opened up here, pulled all the way down, and then it's trying to climb back up again. So let's see what actually happened. We were bullish above $169, bearish below $166. 169 never occurred for us, and so 166— this occurred pre-market, so if you didn't catch that at the open, it upthrusted and was able to break down 166. This came all the way down to 159.35. Uh, we had a target of 160.69 right here at this R5. This is also my 200 exponential moving average, and then the next one would have been 159. Which was this old R2. But anyway, we came down here, held this, hit a few of our targets, and you can see how this is bouncing up. So this massive pullback and moving up is exactly this candle opened up here, pulled all the way back down, and we're— it seems like it's closing a little bit below the open. And look at the volume here for today, 28 million. And look at that compared. This is the largest volume we've had in a very, very long time. So good on you, Chevron. All right there. There you have it. Those are the results of your trade setups for today. So hopefully you made some money on these. Please let us know how you're doing and drop a comment in the comment section below. Like, share, subscribe, do all of that great stuff, and we'll see you tomorrow with all new trade setups.
