Chevron Corporation (CVX) Closes Prior Hour Up 0.45%; 2 Day Up Streak Snapped, in a Downtrend Over Past 90 Days

The Hourly View for CVX

Last Updated November 12, 2020, 22:25 GMT

Currently, CVX’s price is down $-0.72 (-0.87%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CVX has now gone down 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 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

The choppiness in the recent daily price action of Chevron Corp continues; to start today, it came in at a price of 82.46 US dollars, down 0.73% ($0.61) since the previous day. The change in price came along side change in volume that was down 22.59% from previous day, but up 1.47% from the Wednesday of last week. Let’s take a look at the daily price chart of Chevron Corp.


Chevron Corp Technical Analysis

The first thing we should note is that the current price of Chevron Corp is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. This may setup an interesting opportunity for traders looking to sell rallies in anticipation of the primary trend resuming. For another vantage point, consider that Chevron Corp’s price has gone up 7 of the previous 10 trading days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about CVX:

    📉 Symbol: $CVX
    Direction: BEARISH
    Time (EST): 2020-11-11 10:54:55
    Current Stock Price: 82.52$
    AI Confidence Score: 👎 86.10% 👎

    👉 Statistics
    Puts Volume -> Today: 1.9K, Average Last Five Days: 854
    Puts Premiums -> Today: 329.6K, Average Last Five Days: 296.0K
    Puts Average Bid-Ask -> Today: 4.11, Average Last Five Days: 4.64
    Volume > OI Puts -> Today: 1, Average Last Five Days: 1.00
    Average Days until Expiration -> Today: 43.0, Average Last Five Days: 17.7
    Average Strike Price -> Today: 82.17, Average Last Five Days: 79.14