CHEVRON CORPORATION Stock Code CVX.NYS
Price reached a high at $166.83 on 29 August and went into a decline after that high. During the price correction, price was supported by the cloud and managed to stay within the cloud, keeping the uptrend intact. Conversion and Base lines remained in a bullish crossover, hinting at a bullish price trend. Lagging Span is above price of 26 days ago but is inside the cloud. MACD is bullish with both lines above the zero line. We think price is likely to move higher to the next gap resistance at $170.87 in the next 2-3 weeks.
$170.85 Price Target
$155.20 Risk Management Stop
3 weeks Trade Duration