Chevron Corporation (CVX) Price Near $82.50; 2 Day Up Streak Snapped, in a Downtrend Over Past 90 Days

The Hourly View for CVX

Last Updated November 12, 2020, 00:08 GMT

Currently, CVX’s price is up $0.1 (0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart 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

The back and forth price flow continues for Chevron Corp, which started today off at 82.46 US dollars, down 0.73% ($0.61) from the previous day. The price move occurred on volume that was down 23.51% from the day prior, but up 0.26% from the same day the week before. The daily price chart of Chevron Corp below illustrates.


Chevron Corp Technical Analysis

Coming into today the current price of Chevron Corp is sitting close to its 100 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. It should be noted, though, that a trend in the opposite direction, going up, exists on the 14 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to sell rallies created by the counter trend. For additional context, note that price has gone up 15 out of the past 30 days.

Overheard Around the Web

Over on StockTwits, here’s an example of what they’re saying about CVX:

    📉 Symbol: $CVX
    Direction: BEARISH
    Time (EST): 2020-11-11 10:54:55
    Current Stock Price: 82.52$
    AI Confidence Score: 👎 86.10% 👎

    👉 Statistics
    Puts Volume -> Today: 1.9K, Average Last Five Days: 854
    Puts Premiums -> Today: 329.6K, Average Last Five Days: 296.0K
    Puts Average Bid-Ask -> Today: 4.11, Average Last Five Days: 4.64
    Volume > OI Puts -> Today: 1, Average Last Five Days: 1.00
    Average Days until Expiration -> Today: 43.0, Average Last Five Days: 17.7
    Average Strike Price -> Today: 82.17, Average Last Five Days: 79.14