Chevron Corp (CVX) Up 1.12%, in an Uptrend Over Past 14 Days; Pin Bar Pattern Appearing on Chart

The Hourly View for CVX

Last Updated March 4, 2021, 12:35 GMT

Currently, CVX’s price is up $1.65 (1.6%) from the hour prior. This is the 2nd hour in a row CVX has seen its price head down. 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 came into today up 1.12% ($1.15) from the open of the day prior, marking the 3rd day in a row an upward move has occurred. As for how volume fared, yesterday’s volume was up 40.54% from the previous day (Tuesday), and up 13.54% from Wednesday of the week before. Here is a daily price chart of Chevron Corp.

CVX

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. Or to view things another way, note that out of the past 30 days Chevron Corp’s price has gone up 19 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard Around the Web

Here’s what one trader on StockTwits recently had to say in regards to CVX:

    $XLE $XOM $CVX while there is a pressure on the broader market, it’s nice to know that energy sector and holdings are doing well. It seems that we will be going up at a faster rate because the demand is going up at a rapid rate this year. Expecting that the airline industry will pump more oil than ever — and expect every stadiums in the world open for entertainment. We don’t have to worry about Nasdaq because even if those tech company valuations come under control — they will always keep using the electricity and gas same as before .. the only way to bring the oil sector lower is to reduce the world population, but that’s going up and after covid expect massive population increase ..

    franciumusa