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- 4/12/2024 -
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Chevron Corp. (CVX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Chevron Corp. (CVX). During the week, the CVX dropped -2.64 points, or -1.63%, and closed at 158.96 on Friday, April 12, 2024. On Friday CVX has reached 163.87 - the highest level since October 27, 2023. CVX was trading at average weekly trading volume.
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 135.84 and resistance is at 165.06. 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 163.87 on April 12, 2024. CVX gained -24.25 points, or -17.37%, in 12 weeks. The price is now at the 20.25% retracement level.
 Weekly Technical Indicators: [See CVX weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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.
The weekly MACD line is above its signal line since January 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 163.87 on April 12, 2024. CVX gained -16.20 points, or -10.97%, in 39 days. The price is now at the 30.31% 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 main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since March 13, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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