Technical Signs Suggest CVX’s Uptrend May Be Stalling

The Hourly View for Chevron Corporation

  • Currently, CVX’s price is up $0.1 (0.09%) from the hour prior.
  • The hourly chart shows that Chevron Corporation has seen 2 straight up hours.
  • Regarding the trend, note that the strongest trend exists on the 50 hour timeframe.
  • Price action traders may also wish to note that we see a doji 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 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 time of this writing, CVX’s price is down $-1 (-0.87%) from the day prior.
  • This is the 2nd day in a row Chevron Corporation has seen its price head down.
  • Regarding the trend, note that the strongest trend exists on the 20 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 alert: Trend in CVX’s price and its RSI are diverging. CVX’s price is rising faster than its RSI.

Below is a daily price chart of Chevron Corporation.

CVX

Featured Chevron Corporation Idea From TradingView

Below is a trading comment entitled Ideas on CVX you may find interesting:

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