Chevron Corp (CVX) Down 0.96%, in an Uptrend Over Past 14 Days; Price Base in Formation Over Past 30 Days

The Hourly View for CVX

Last Updated February 19, 2021, 12:54 GMT

At the moment, CVX’s price is down $-0.61 (-0.64%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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’s 3 day positive streak has officially concluded, as the candle from the day prior closed down 0.96% ($0.92). This move happened on lower volume, as yesterday’s volume was down 37.09% from the day before — and down 8.67% from the same day the week before. Below is a daily price chart of Chevron Corp.

CVX

Chevron Corp Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For another vantage point, consider that Chevron Corp’s price has gone up 19 of the previous 30 trading days.

Overheard Around the Web

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

    $CVX just a question that doesn’t necessarily relate the CVX but does it make more sense to pursue bio fuels, or electric vehicles? On the one hand yes there will be some emissions but on the other how are they going to supply that increase in the essential demand on the electric grid with renewables without astronomical increases in cost. Just consider the scale and rhetorically say all vehicles are EVs and replace ICEs tomorrow and even the charging infrastructure is already in place.

    FiatFarmer