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Advanced TA SearchArchive
- 4/5/2024 -
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Chevron Corp. (CVX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the Chevron Corp. (CVX). During the week, the CVX gained 3.86 points, or 2.45%, and closed at 161.60 on Friday, April 5, 2024. On Friday CVX has reached 162.17 - the highest level since October 27, 2023. CVX was trading at average weekly trading volume.
CVX is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See CVX long-term trend chart]
A long-term downtrend had started on November 14, 2022 at 189.68 and reached 139.62 on January 18, 2024. CVX lost 50.06 points, or 26.39%, in 61 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 136.16 and resistance is at 165.38. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See CVX medium-term trend chart]
A medium-term uptrend had started on January 18, 2024 at 139.62 and reached 162.17 on April 5, 2024. CVX gained -22.55 points, or -16.15%, in 11 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See CVX short-term trend chart]
A short-term uptrend had started on March 4, 2024 at 147.67 and reached 162.17 on April 5, 2024. CVX gained -14.50 points, or -9.82%, in 32 days. Price is near the trend high.
Daily Technical Indicators: [See CVX daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since March 13, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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