Chevron Corporation Trend May Be Changing as Price Just Breached Above Its 200 Day Moving Average

The Hourly View for Chevron Corporation

  • Currently, CVX’s price is up $0.05 (0.05%) from the hour prior.
  • This move is a reversal from the hour prior, which saw price move down.
  • Regarding the trend, note that the strongest trend exists on the 100 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 and 10 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 bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Chevron Corporation’s hourly price chart is shown below.


The Daily View for Chevron Corporation

  • At the time of this writing, CVX’s price is down $-3.79 (-3.84%) from the day prior.
  • Chevron Corporation has seen its price go down 8 out of the past 10 days, thus creating some compelling opportunities for bears.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 200 day moving average has been crossed, so that price is now turning below it. 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.

Below is a daily price chart of Chevron Corporation.


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