Tag: Chevron Corp

CHEVRON CORPORATION Stock Code CVX.NYS

Outlook

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.

Strategy                  

$159.70              Buy

$170.85              Price Target

$155.20              Risk Management Stop

3 weeks              Trade Duration

Chevron Corp Stock Code CVX.NYS

Outlook

Price broke below the cloud in the previous trading session, changing the chart outlook to bearish. The long black candlestick in the previous trading session also highlighted a strong bearish price movement. Conversion and Base lines had a bearish crossover, hinting at a bearish price trend. Lagging Span is below price of 26 days ago but is inside the cloud. MACD has a bearish crossover and is hinting at a bearish price trend. We think price is likely to move lower to $136.74 in the next 2-3 weeks.

Strategy 

$152.40                Sell

$136.75                Price Target

$162.20                 Risk Management Stop

3 weeks              Trade Duration