Chevron Corporation (CVX) Closes Last Hour Up $0.18; 2 Day Down Streak Snapped, Crosses 200 Day Moving Average, in an Uptrend Over Past 14 Days

The Hourly View for CVX

Last Updated November 20, 2020, 02:08 GMT

At the moment, CVX’s price is up $0.36 (0.43%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as CVX has now gone up 4 of the past 5 hours. Regarding the trend, note that the strongest trend 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

85.73 was the closing price of the day for Chevron Corp, resulting in today being one in which price moved up 1.72% ($1.45) from the day prior. This move happened on lower volume, as yesterday’s volume was down 17.08% from the day before — and down 41.64% from the same day the week before. Let’s take a look at the daily price chart of Chevron Corp.


Chevron Corp Technical Analysis

Notably, Chevron Corp crossed above its 200 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard Around the Web

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

    $MO It's literally like altria just has to roll over and die slowly to satisfy these people.

    A cigarette company acquiring a vaping company is not "eliminating competition." It's a whole different market. It's like if a fast food company acquired a health food company because people are starting to eat more healthy, and saying it's a monopoly because "Well, they're both food companies." Man our government is dumb.

    Wouldn't be surprised if $CVX and $XOM starts dealing with this same nonsense while acquiring the charging stations.