Chevron Corp (CVX) Heads Down For the 2nd Straight Day; Price Base in Formation Over Past 90 Days

Chevron Corp 4 Hour Price Update

Updated August 20, 2020 04:38 PM GMT (12:38 PM EST)

In the past four hours of today’s trading session, CVX’s price is down $-1.06 (-1.22%). For context, Chevron Corp’s peers in the in the Petroleum and Natural Gas industry are down -2.42% on average in this time, while its counterparts in the broader Energy sector are down by an average of -2.24%.

Chevron Corp Daily Price Recap

Chevron Corp is down 1.42% ($1.24) since the previous day, marking the 2nd straight day it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 14.24% from the day prior, and up 11.91% from the same day the week before. Here is a daily price chart of Chevron Corp.

CVX

Chevron Corp Technical Analysis

Price action traders in particular will want to note that the 90 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Chevron Corp’s price has gone up 15 of the previous 30 trading days.

Overheard Around the Web

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

    $OXY Q2 ER and Buffett quitting occurred when oil price was mostly below $40, before June 30. Since Q3 started oil price has been steady above $40 and if this keeps up for another month along with the stimulus package in September, we should recover soon. Same for $CVX $PSX $XOM

    aheh