The Greedy Trader Weekly Analysis
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Chevron Corp. (CVX)

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Summary:
Weekly :Williams' Percentage Range is overboughtOversold sectorBroken trend resistance line
Daily :Williams' Percentage Range is overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was a first positive week for the Chevron Corp. (CVX). During the week, the CVX gained 2.44 points, or 1.98%, and closed at 125.98 on Friday, July 12, 2019. Weekly volume was -42% below average.

CVX is a member of Basic Materials Sector. Basic Materials is the most oversold 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 January 16, 2018 at 133.88 and reached 100.22 on December 26, 2018. CVX lost 33.66 points, or 25.14%, in 49 weeks. The price is now at the 76.53% retracement level.

Medium-term trend: [See CVX medium-term trend chart]
A medium-term downtrend had started on April 8, 2019 at 127.34 and reached 113.72 on May 31, 2019. CVX lost 13.62 points, or 10.70%, in 7 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (111.39) 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 medium-term trend.

Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 14, 2019. The distance between MACD and the signal line is low, but getting bigger. 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 May 31, 2019 at 113.72 and reached 126.25 on July 12, 2019. CVX gained -12.53 points, or -11.02%, in 42 days. Price is near the trend high.

Daily Technical Indicators: [See CVX daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 4.03% on Friday. It is 53.54% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.46
Bearish
Williams' Percentage Range (W%R) 14.80
Overbought
Lane's Stochastic (%D-Slow) 67.06
Bearish
Greed/Fear Indicator (GFI) 69.24
Moving Average Converg./Diverg. (MACD) 1.05 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.43
Williams' Percentage Range (W%R) 14.40
Overbought
Lane's Stochastic (%D-Slow) 78.23
Greed/Fear Indicator (GFI) 72.56
Moving Average Converg./Diverg. (MACD) 0.80
Trading Signals
Description Value Chart
Upper Bollinger Band 126.04
Price 125.98
Daily Stochastic Crossing 125.26
Weekly Stochastic Crossing 124.21
20 Day Moving Average 123.79
Parabolic System 122.58
50 Day Moving Average 121.07
Lower Bollinger Band 120.95
Weekly Trendline Resistance 115.03
Weekly Trendline Support 111.39
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Major Integrated Oil/Gas 62
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 113.72
Low Date 05/31/2019
High 126.25
High Date 07/12/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 115.03
Support 111.39
High 127.34
High Date 04/08/2019
Low 113.72
Low Date 05/31/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 100.22
Low Date 12/26/2018
High 127.34
High Date 04/08/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 133.88
High Date 01/16/2018
Low 100.22
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.58
Low Date 08/24/2015
High 133.88
High Date 01/16/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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