The Hourly View for CVX
Last Updated November 19, 2020, 02:016 GMT
Currently, CVX’s price is up $0.24 (0.28%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as CVX has now gone down 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend 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
Chevron Corp is down 3.17% ($2.76) since the previous day, marking the 2nd straight day it has gone down. This move happened on lower volume, as yesterday’s volume was down 26.86% from the day before — and down 56.33% from the same day the week before. The daily price chart of Chevron Corp below illustrates.
Chevron Corp Technical Analysis
First things first: Chevron Corp crossed below its 200 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone down 16 out of the past 30 days.
Overheard Around the Web
Here’s what one trader on StockTwits recently had to say in regards to CVX:
Thank you, Jim Cramer, for asking the Chevron CEO about the auction of those leases being pushed through in the protected Alaska wilderness before the end of the Trump Administration. While he didn't come right out and say "no" they won't bid, he seemed to agree with your comments that it makes no sense to drill there with so much oil in the lower 48. $CVX $XOM