Chevron Corporation (CVX) Closes Last Hour Up $0.02; Moves Up For the 2nd Consecutive Day, in an Uptrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for CVX

Last Updated November 23, 2020, 15:19 GMT

At the moment, CVX’s price is up $2.16 (2.52%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as CVX has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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 up 0.07% ($0.06) since the previous day, marking the 2nd consecutive day it has gone up. This move happened on lower volume, as yesterday’s volume was down 5.87% from the day before — and down 28.72% from the same day the week before. Here is a daily price chart of Chevron Corp.

CVX

Chevron Corp Technical Analysis

Notably, Chevron Corp is now close to its 200 day moving averages, which may act as price barrier for the asset. 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. For additional context, note that price has gone up 8 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:

    3 of 10 $CSCO $CVX $DIS The Yellow line measures the Strength for any instrument, with values from 0 to 100. Areas with Strength greater than 75 are considered overbought, with less than 25 oversold and neutral in between. Trading Signals produced are depicted with arrows and are green for longs and red for short entries … see 4/10

    GemsBot