Chevron Corporation (CVX) Closes Prior Hour Up 1.18%; in a Downtrend Over Past 90 Days, Crosses 100 Day Moving Average, Heads Up For the 2nd Straight Day

The Hourly View for CVX

Last Updated November 11, 2020, 00:021 GMT

Currently, CVX’s price is up $1.33 (1.68%) from the hour prior. CVX has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Chevron Corp Daily Price Recap

Chevron Corp is up 4.62% ($3.67) since the day prior, marking the 2nd straight day an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 37.65% from the day before — and down 12.97% from the same day the week before. The daily price chart of Chevron Corp below illustrates.


Chevron Corp Technical Analysis

Notably, Chevron Corp crossed above its 100 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 14 days Chevron Corp’s price has gone up 8 them.

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to CVX:

    $CVX Nov 09
    – Daily stock market timing forecast –
    ◆ Investment position
    => Buy – Bullish
    ◆ Search for the daily stock market timing forecast
    ◆ Upper~Lower stock price band for the next 10 days
    Price: 77.71 ~ 86.73
    % Change: -2.13% ~ 9.23%
    ◆ Today's Supply-Demand(S&D) strength
    => Supply-Demand strength has changed to a strengthening buying flow when stock market opening.

    ◆ Daily Supply-Demand(S&D) strength Trend
    => About to begin an upward trend as an adjustment trend gradually gives way to increasing limited falls and strong rises.