CHEVRON CORP (CVX) Technical Analysis
NYSE:CVX • US1667641005
Current stock price
CVX Technical Rating and Analysis
Overall CVX gets a technical rating of 6 out of 10. In the last year, CVX was one of the better performers, but we do observe some doubts in the very recent evolution.
- CVX is currently showing a bear flag pattern! A bear flag pattern occurs when prices pull back slightly after a strong move down. This may present a good short opportunity.
- When comparing the yearly performance of all stocks, we notice that CVX is one of the better performing stocks in the market, outperforming 75% of all stocks. On top of that, CVX also shows a nice and consistent pattern of rising prices.
- CVX has an average volume of 12655100 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
- CVX is part of the Oil, Gas & Consumable Fuels industry. There are 209 other stocks in this industry, CVX did better than 46% of them.
- CVX is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so CVX is lagging the market.
CVX Weekly and Daily overview Charts
CVX Setup Rating and Analysis
CVX has only a medium technical rating, but it does show a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 185.42. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 183.98, a Stop Loss order could be placed below this zone.
More info and screens
CVX Support and Resistance Analysis
137.17
We found 4 important support areas.
- A support zone ranging from 180.55 to 183.98. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @154.15 from a trend line in the weekly time frame.
- Strong support @149.68 from a horizontal line in the daily time frame.
- Support @138.56 from a horizontal line in the weekly time frame.
2 important resistance areas can be observed.
- A resistance zone ranging from 185.42 to 186.27. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A resistance zone ranging from 211.16 to 211.16. This zone is formed by a combination of multiple trend lines in multiple time frames.
CVX Technical Indicator Signal Analysis
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for CVX is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for CVX is down. |
| ChartMill Relative Strength | 75.81 | POSITIVE | CVX has a high relative strength, it outperformed 75.81% off all stocks on the market. |
| Simple Moving Average/SMA (20) | DOWN | NEGATIVE | The current price of CVX is below a declining SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of CVX is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of CVX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 40.68 | NEUTRAL | The RSI value for CVX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.9 | NEGATIVE | The MACD value suggests CVX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 33.89 | NEUTRAL | The Stochastics value for CVX is a neutral value. |
| Average True Range in percent/ATR (20) | 3.27 | MEDIUM VOLATILITY | The ATR as a percentage value for CVX suggests some volalility. |
| Average Directional Index/ADX (14) | 23.95 | NEUTRAL | The ADX value for CVX suggests a possible start of a new trend. |
CVX Chart- and CandleStick Pattern Analysis
CVX Example Setup
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 186.28 | 180.54 | 5.74 (3.08%) | 25.00% |
| An entry @186.28. This is a Buy Stop order right above the resistance zone. | An exit @180.54. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 5.74 points, which is 3.08%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.77%. |
- The distance between exit and entry is rather small compared to the average daily movement of CVX. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
CVX Technicals: Chart, Performance Metrics, Trend & Indicators
184.78
-0.43 (-0.23%)
CHEVRON CORP / CVX TA FAQ
What is the technical rating for CVX stock?
ChartMill assigns a technical rating of 6 / 10 to CVX.
Can you provide the trend direction for CHEVRON CORP?
The current trend direction for CHEVRON CORP (CVX) is Bullish.
What is the RSI signal for CHEVRON CORP (CVX) stock?
CHEVRON CORP (CVX) has an RSI value of 40.6819. This indicates that the stock is currently neutral.
What is the short term momentum for CVX stock?
The short term momentum for CHEVRON CORP (CVX) is negative.
Can you provide the support and resistance levels for CHEVRON CORP?
CHEVRON CORP (CVX) has a support level at 183.98 and a resistance level at 185.42. Check the full technical report for our detailed analysis of CVX support and resistance levels.