The Hourly View for CVX
Last Updated January 21, 2021, 23:12 GMT
Currently, Chevron Corporation’s price is down $-1.99 (-2.09%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Chevron Corporation has now gone down 8 of the past 10 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
Chevron Corp entered today at $92.09, down 3.56% ($3.4) from yesterday. This move happened on lower volume, as yesterday’s volume was down 26.61% from the day before — and down 26.42% from the same day the week before. Below is a daily price chart of Chevron Corp.
Chevron Corp Technical Analysis
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. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Chevron Corp’s price has gone down 17 them.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to CVX:
$CDEV has a DURABLE BOTTOM at about $2.30. I heard an analyst saying she thought obviously oil will be a big 2021 play and that oil and stock prices had found what she called a DURABLE BOTTOM. Which I assume means floor / support. So perhaps these days when oil stocks are blood red & look like the film Carrie are and can be viewed in a new light, a positive light. Perhaps as this analysts theory of DURABLE BOTTOM suggests this stock will never go below $2.30 ever again ? Today, great time to buy !
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