Buying Chevron Corp shares (#CVX), a US oil company.
Chevron is showing stable enough performance despite a bearish US stock market. According to the daily chart, a correction emerged after the uptrend that started on December 31 when the price reversed up from the Krusenstern line (arrow). The signal line of the Marlin oscillator moved down from the overbought zone. It is likely to reverse and move up soon. In such a case, the target is seen at 132.70, the price channel line.
Selling Johnson & Johnson shares (#JNJ), an American holding company.
On the weekly chart, the price consolidated under the Krusenstern line and is now trying to break through the Fibonacci level of 61.8%. The signal line of the Marlin oscillator is moving down in the descending channel, having crossed the border with the downtrend and consolidation. The target is seen at 153.53, the 110.0% Fibonacci level.
According to the daily chart, the quote broke below the Kruzenshtern line and the Marlin oscillator is moving down in the negative territory. JNJ stock is expected to be in the downtrend.
