Chevron Corporation Has Now Headed Up 4 Out of the Past 5 Days

The Hourly View for Chevron Corporation

  • At the time of this writing, CVX’s price is up $0.16 (0.14%) from the hour prior.
  • It’s been a feast for bulls operating on an hourly timeframe, as Chevron Corporation 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 20 hour timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Chevron Corporation. Given that we see downtrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Chevron Corporation’s hourly price chart is shown below.

CVX

The Daily View for Chevron Corporation

  • At the moment, CVX’s price is up $0.01 (0.01%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Chevron Corporation has now gone up 4 of the past 5 days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • Divergence between CVX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in CVX’s price.

Below is a daily price chart of Chevron Corporation.

CVX

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