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S&P 500 Overbought StocksArchive
- 11/8/2024 -
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Chevron Corp. (CVX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Chevron Corp. (CVX). During the week, the CVX gained 3.80 points, or 2.48%, and closed at 156.90 on Friday, November 8, 2024. CVX was trading at average weekly trading volume.
 Long-term trend: [See CVX long-term trend chart]
A long-term uptrend had started on March 19, 2020 at 51.60 and reached 189.68 on November 14, 2022. CVX gained -138.08 points, or -267.60%, in 138 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (158.34) is broken. A broken support is considered to be a long-term bearish signal. 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 support 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 158.60 on November 6, 2024. CVX gained -23.23 points, or -17.16%, in 8 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (159.96) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.
The weekly MACD line is above its signal line since October 11, 2024. 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 October 9, 2024 at 147.36 and reached 158.60 on November 6, 2024. CVX gained -11.24 points, or -7.63%, in 28 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern.
 Daily Technical Indicators: [See CVX daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range 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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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Energy |
3 |
| Industry |
Integrated Oil & Gas |
79 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Broadening Right-Angled, Ascending Wedge |
| Low |
147.36 |
| Low Date |
10/09/2024 |
| High |
158.60 |
| High Date |
11/06/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Test Support |
| Resistance |
156.69 |
| Support |
159.96 |
| Low |
135.37 |
| Low Date |
09/11/2024 |
| High |
158.60 |
| High Date |
11/06/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
167.11 |
| High Date |
04/29/2024 |
| Low |
135.37 |
| Low Date |
09/11/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
189.68 |
| High Date |
11/14/2022 |
| Low |
135.37 |
| Low Date |
09/11/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Symmetric Triangle |
| Status |
Broken Support |
| Resistance |
158.74 |
| Support |
158.34 |
| Low |
51.60 |
| Low Date |
03/19/2020 |
| High |
189.68 |
| High Date |
11/14/2022 |
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