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.


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
    ◆ 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.