The Greedy Trader Weekly Analysis
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Chevron Corp. (CVX)

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Summary:
Weekly :Broken trend support lineOversold sectorOversold industryLane's Stochastic is oversold
Daily :Daily  MACD line has moved above its signal line
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It was a second positive week after 4 consecutive negative weeks for the Chevron Corp. (CVX). During the week, the CVX gained 1.14 points, or 1.05%, and closed at 110.08 on Friday, February 14, 2020. Weekly volume was -36% below average.

CVX is a member of Basic Materials Sector. Basic Materials is the most oversold sector. CVX is a member of Major Integrated Oil/Gas Industry. Major Integrated Oil/Gas is the eighth most oversold industry. 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 uptrend had started on December 26, 2018 at 100.22 and reached 127.34 on April 8, 2019. CVX gained -27.12 points, or -27.06%, in 14 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (136.30) 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 downtrend had started on July 25, 2019 at 127.00 and reached 105.40 on February 3, 2020. CVX lost 21.60 points, or 17.01%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 97.51 and resistance is at 119.78. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since January 10, 2020. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See CVX short-term trend chart]
A short-term downtrend had started on November 14, 2019 at 122.94 and reached 105.40 on February 3, 2020. CVX lost 17.54 points, or 14.27%, in 81 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern.

Daily Technical Indicators: [See CVX daily technical indicators chart]
Daily technical indicators are neutral.

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.14
Williams' Percentage Range (W%R) 54.20
Lane's Stochastic (%D-Slow) 79.87
Greed/Fear Indicator (GFI) 58.25
Moving Average Converg./Diverg. (MACD) -1.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.94
Williams' Percentage Range (W%R) 71.80
Lane's Stochastic (%D-Slow) 14.43
Oversold
Greed/Fear Indicator (GFI) 28.36
Moving Average Converg./Diverg. (MACD) -1.07
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 126.36
Weekly Trendline Resistance 119.78
Upper Bollinger Band 115.98
50 Day Moving Average 115.38
Daily Stochastic Crossing 111.83
20 Day Moving Average 110.69
Price 110.08
Parabolic System 108.11
Weekly Stochastic Crossing 108.05
Lower Bollinger Band 107.06
Weekly Trendline Support 97.51
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Major Integrated Oil/Gas 8
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
High 122.94
High Date 11/14/2019
Low 105.40
Low Date 02/03/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 119.78
Support 97.51
High 127.00
High Date 07/25/2019
Low 105.40
Low Date 02/03/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 127.34
High Date 04/08/2019
Low 105.40
Low Date 02/03/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 126.36
Support 136.30
Low 100.22
Low Date 12/26/2018
High 127.34
High Date 04/08/2019
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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