By Mill Chart
Last update: Jan 26, 2023
Our stock screener has spotted CHEVRON CORP (NYSE:CVX) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:CVX.
ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.
Taking everything into account, CVX scores 7 out of 10 in our technical rating. In the last year, CVX was one of the better performers, but we do observe some doubts in the very recent evolution.
ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:CVX scores a 9 out of 10:
CVX has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is very little resistance above the current price. There is a support zone below the current price at 178.8, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
Of course, there are many ways to trade or not trade NYSE:CVX and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.
Every day, new breakout setups can be found on ChartMill in our Breakout analyzer.
CHEVRON CORP
NYSE:CVX (3/28/2024, 8:04:09 PM)
After market: 157.69 -0.05 (-0.03%)157.74
+1.39 (+0.89%)
A little money could go a long way with these Buffett stocks.
Berkshire Hathaway should collect in the neighborhood of $6 billion in dividend income this year. Five core holdings will account for the lion's share of these payouts.
The merger is "fair to and in the best interests of the Hess stockholders," Hess's U.S. Securities and Exchange filing said.
Hess Corp on Thursday said in a securities filing that its board unanimously recommended shareholders vote in favor of the company's sale to Chevron Corp, and that Exxon Mobil had initially supported the deal. The $53 billion deal's closing has been delayed by a second request for information by the U.S. Federal Trade Commission and by contract arbitration filings by Hess's partners in Guyana - Exxon Mobil Corp and CNOOC Ltd - seeking to assert a right of first refusal on any sale of Hess's Guyana assets. The merger is "fair to and in the best interests of the Hess stockholders," Hess's U.S. Securities and Exchange filing said.
Exxon Mobil Corp. and Cnooc Ltd. merged arbitration claims against Chevron Corp.’s proposed takeover of Hess Corp. that would allow the US oil supermajor to enter Guyana’s Stabroek Block.
The DJIA has been the bellwether index for well over a century and these stocks poised for unbeatable returns.
These defensive stocks to buy can help buffer more speculative investments from economic shakeups and market downturns.
Energy stocks are the biggest winners this month as oil prices push higher. It's a sign the market rally is broadening beyond just Big Tech.
These energy stocks have been on fire this year.
After decades of burning carbon, Exxon, Shell and others are looking to lock down the rare places that can absorb it.
Buffett has made more money on Apple stock than any stock he's ever owned.