The Tide May Be Shifting for Chevron Corporation as it Crosses Below Its 50 Day Moving Average

The Hourly View for Chevron Corporation

  • At the moment, CVX’s price is down $-0.87 (-0.51%) 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 50 hour timeframe.
  • Of note is that the 20 hour changed directions on CVX; it is now pointing up. 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 up $3.78 (2.26%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • Most noteworthy in the world of moving averages on the daily chart is that the 50 day moving average has been crossed, with price now being above it. 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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