The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
Number of records: 6
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Uptrend Exhaustion

Uptrend Exhaustion stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

Archive
- 3/15/2024 -
Sign In to see current Signals.

Chevron Corp. (CVX) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sector
Daily :Williams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergenceStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Chevron Corp. (CVX). During the week, the CVX gained 5.67 points, or 3.78%, and closed at 155.55 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -7% below 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 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 137.06 and resistance is at 166.28. 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 157.03 on March 15, 2024. CVX gained -17.41 points, or -12.47%, in 8 weeks. The price is now at the 8.50% retracement level.

Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since January 26, 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 March 4, 2024 at 147.67 and reached 157.03 on March 15, 2024. CVX gained -9.36 points, or -6.34%, in 11 days. The price is now at the 15.81% retracement level.

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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily 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. 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.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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) 53.19
Williams' Percentage Range (W%R) 19.70
Overbought
Lane's Stochastic (%D-Slow) 79.45
Bearish
Greed/Fear Indicator (GFI) 70.99
Moving Average Converg./Diverg. (MACD) 0.46 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.98
Williams' Percentage Range (W%R) 37.20
Lane's Stochastic (%D-Slow) 77.33
Greed/Fear Indicator (GFI) 64.64
Moving Average Converg./Diverg. (MACD) -2.49
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 166.28
Upper Bollinger Band 156.90
Price 155.55
Daily Stochastic Crossing 155.53
Weekly Stochastic Crossing 153.36
20 Day Moving Average 152.65
50 Day Moving Average 150.02
Parabolic System 148.40
Lower Bollinger Band 147.51
Quarterly Trendline Support 137.06
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Integrated Oil & Gas 79
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 147.67
Low Date 03/04/2024
High 157.03
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 147.67
Low Date 03/04/2024
High 157.03
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 139.62
Low Date 01/18/2024
High 157.03
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 166.28
Support 137.06
High 189.68
High Date 11/14/2022
Low 139.62
Low Date 01/18/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 51.60
Low Date 03/19/2020
High 189.68
High Date 11/14/2022
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.