Chevron Corp (CVX) Down 0.54%; Pin Bar Pattern Appearing on Chart

The Hourly View for CVX

Last Updated February 12, 2021, 12:32 GMT

At the time of this writing, CVX’s price is down $-0.5 (-0.54%) from the hour prior. The hourly chart shows that CVX has seen 3 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 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 92.02 US dollars, down 0.54% ($0.5) since yesterday. This move happened on lower volume, as yesterday’s volume was down 2.22% from the day before — and down 7.15% from the same day the week before. Here is a daily price chart of Chevron Corp.

CVX

Chevron Corp Technical Analysis

Notably, Chevron Corp is now close to its 20 day averages, located at 90.58 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Chevron Corp’s price has gone up 7 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard Around the Web

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

    $CVX Feb 10
    Stock market forecast – Daily
    ◆ Investment position
    => Neutral – Bullish
    ◆ RSS feed. Stock forecast for the next 10 days
    http://feeds.feedburner.com/pretiming
    ◆ Upper~Lower stock price band for the next 10 days
    Price: 90.33 ~ 95.12
    % Change: -2.37% ~ 2.81%
    ◆ Today's Supply-Demand(S&D) strength
    => Supply-Demand strength has changed from a weak buying flow to a strengthening buying flow again.

    ◆ Daily Supply-Demand(S&D) strength Trend
    => In the midst of an upward trend of strong upward momentum price flow marked by the temporary falls and strong rises.

    Timing_Forecast