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Downtrend Broken Resist.Archive
- 3/21/2025 -
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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 7.80 points, or 4.97%, and closed at 164.80 on Friday, March 21, 2025. It was the best weekly gain since January 17, 2025. Weekly volume was 62% above average.
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 135.37 on September 11, 2024. CVX lost 54.31 points, or 28.63%, in 95 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (131.95) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CVX may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See CVX medium-term trend chart]
A medium-term uptrend had started on September 11, 2024 at 135.37 and reached 165.30 on March 20, 2025. CVX gained -29.93 points, or -22.11%, in 27 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (148.08) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 10, 2025. This is an indication that the medium-term trend is up. 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 5, 2025 at 147.70 and reached 165.30 on March 20, 2025. CVX gained -17.60 points, or -11.92%, in 15 days. Price is near the trend high.
 Daily Technical Indicators: [See CVX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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