the Extreme Turn Buy signal comes in at a key support zone. CVX showed an impulse move from %83 to $95.50. The initial Ext Turn buy produced a nice winner and now we're back at the key level as the markets trade to new highs. Could pull in to till the $85-86 Gap then go. Looking for 4% move to High to High trendline then 13% to $100 on a 1 to 1 move from the impulse leg.
Options Trade: CVX option would be JAN 85/100 Bull Call Spread for $5 or better.
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Target 1 hit as CVX moves to $92 a share and the Bull Call Spread could have covered for a small win. Stops on the 2nd half can now trail to 87.50 level looking for another $8 move to the $100 target.
the High to High Trend Line can act as target 1 with target 2 at the 1 to 1 measured move to the Century mark. Fibonacci .618-.786 bid zone is in place as well as the tLine Moving Average