CHEVRON CORP (CVX) Stock Technical Analysis
NYSE:CVX • US1667641005
We assign a technical rating of 8 out of 10 to CVX. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, CVX is only an average performer.
- The long and short term trends are both positive. This is looking good!
- CVX is currently trading near its 52 week high, which is a good sign. The S&P500 Index however is also trading near new highs, which makes the performance in line with the market.
- CVX is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
- CVX has an average volume of 10959300 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- Looking at the yearly performance, CVX did better than 76% of all other stocks. However, this overall good ranking is mostly due to the recent strong move.
- CVX is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 60% of 206 stocks in the same industry.
Besides having an excellent technical rating, CVX also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 183.92, a Stop Loss order could be placed below this zone. Very recently a Pocket Pivot signal was observed. This is another positive sign.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
137.17
4 important support areas can be observed.
- A support zone ranging from 178.23 to 183.92. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 148.90 to 150.78. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @143.19 from a horizontal line in the daily time frame.
- Support @138.56 from a horizontal line in the weekly time frame.
When analyzing the resistance we notice one important area.
- A resistance zone ranging from 183.94 to 185.83. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CVX is up. |
| ChartMill Short Term Trend Indicator | UP | POSITIVE | The short term trend for CVX is up. |
| ChartMill Relative Strength | 76.49 | POSITIVE | CVX has a high relative strength, it outperformed 76.49% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of CVX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of CVX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 65.72 | NEUTRAL | The RSI value for CVX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.27 | NEGATIVE | The MACD value suggests CVX has a negative trend. |
| Stochastics (14,3) | 79.36 | NEUTRAL | The Stochastics value for CVX is a neutral value. |
| Average True Range in percent/ATR (20) | 1.94 | LOW VOLATILITY | The low ATR as a percentage value for CVX suggests low volalility. |
| Average Directional Index/ADX (14) | 53.79 | POSITIVE | The high ADX value value for CVX suggests a strong trend. |
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 185.84 | 178.73 | 7.11 (3.83%) | 25.00% |
| An entry @185.84. This is a Buy Stop order right above the resistance zone. | An exit @178.73. This is a Stop Loss order right below the 10 day low. | The worst case loss on the trade is limited to 7.11 points, which is 3.83%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.96%. |
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
183.93
-0.85 (-0.46%)
CHEVRON CORP / CVX FAQ
What is the technical rating for CVX stock?
ChartMill assigns a technical rating of 8 / 10 to CVX.
What is the trend direction for CVX stock?
The current trend direction for CHEVRON CORP (CVX) is Bullish.
What is the RSI signal for CVX stock?
CHEVRON CORP (CVX) has an RSI value of 65.7232. This indicates that the stock is currently neutral.
What is the MACD signal for CHEVRON CORP (CVX) stock?
The MACD indicator for CHEVRON CORP (CVX) has a value of -0.267112, indicating a bearish trend.
Can you provide the buy/sell signal for CHEVRON CORP?
The buy/sell signal for CHEVRON CORP (CVX) is buy as both the short term and long term trends are positive.