Chevron Corporation (CVX) Closes Last Hour Up $1.30; Moves Down For the 2nd Day In A Row, Pin Bar Pattern Appearing on Chart, in a Downtrend Over Past 30 Days

The Hourly View for CVX

Last Updated September 22, 2020, 00:014 GMT

At the moment, CVX’s price is down $-2.28 (-2.92%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50 and 100 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Chevron Corp Daily Price Recap

Chevron Corp is down 2.44% ($1.91) since the previous day, marking the 2nd day in a row a decrease has occurred. As for how volume fared, yesterday’s volume was up 10.23% from the previous day (Sunday), and up 35.1% from Monday of the week before. The daily price chart of Chevron Corp below illustrates.


Chevron Corp Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 10 out of the past 14 days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard Around the Web

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

    $GEVO After looking at the 'Macro' environment in regard to 'Biofuels' & 'Boimass to Biofuels' Marketplace going forward to 2050. It is quite obvious ( See: $BP ) latest plans & investments that this 'IS' the way forward.

    In regard to $GEVO — 3 options to profitability:

    — 1.) Stand alone company ( Longer time frame to profitability due to lack of immediate capital )

    — 2.) Partnership with a Tier-One like $BP ( Sell part (Ex:25%) of the company equity but have available cash to build-out plants & facilities faster. No need to wait a year for loan thru Citigroup )

    — 3.) Sell out entire company/patents/assets to a Tier-One Oil & Gas Company. ( Many options here such as $CVX $BP $XOM & More )

    I will say that imho; Any of the 3 stated possibilities is viable for GEVO. My choice would be #2 as as i see this today as becoming a 'RACE' to 0 Carbon emissions… Again see $BP's Transition & Other Tier-Ones will follow a similar path soon!