For those of us with cash and a long term horizon, 55 will be a good price to invest in CVX. I wouldn't expect it to go any lower than that.
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It could go to the 2009 low of 55
Oil is down sharply as well as Chinese & Asian stock markets. Today will be a very bloody day for CVX stock. It may be the day to go all in, but we still have to get past the 3Q earnings report that will be brutal. If before 1pm Eastern today there is no real bounce in the stock, it indicates more pain to come for CVX.
pre-market cvx down about 7% at $70 or so.