Chevron Corporation is Down for the 2nd Day in a Row

The Daily View for Chevron Corporation

  • At the time of this writing, CVX’s price is down $-0.65 (-0.62%) from the day prior.
  • This is the 2nd day in a row Chevron Corporation has seen its price head down.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • 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 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 100 day changed directions on CVX; it is now pointing down. The moving averages on the daily 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

  • Currently, CVX’s price is down $-0.84 (-0.8%) from the day prior.
  • Chevron Corporation has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • 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.

Below is a daily price chart of Chevron Corporation.

CVX

Featured Chevron Corporation Commentary From Twitter

Goldman downgrades CVX to Neutral, sees better return potential at Exxon Mobil, where there is “a better long-term earnings revision story around Chemicals and costs”NA

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