Chevron Corporation May Be Offering a Trading Opportunity With Its Cross Above Its 20 Moving Average

The Hourly View for Chevron Corporation

  • Currently, CVX’s price is down $-0.58 (-0.35%) from the hour prior.
  • It’s been a feast for bears operating on an hourly timeframe, as Chevron Corporation has now gone down 9 of the past 10 hours.
  • If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe.
  • 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 down $-8.22 (-4.68%) from the day prior.
  • The daily chart shows that Chevron Corporation has seen 3 straight down days.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 day timeframe.
  • Regarding moving averages, it should first be noted that price has crossed the 20 and 50 day moving averages, resulting in them so that price is now turning below them. 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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