Chevron driven lower by pivotal resistance - Analysis - 30-01-2023

Economies.com
2 months ago

Chevron's stock (CVX) fell in the intraday levels after the energy giant missed fourth-quarter profits estimates, while earnings beat expectations, with the stock tumbling 4.44% in the last session, or 8.34 points, settling at 179.45, with trading volumes surpassing 19.6 million shares, above 10-day averages of 9.6 million shares.

 

Technically, the stock fell after the pivotal resistance of 188.44 held on, with negative signals from the RSI after reaching overbought levels, with the stock gathering momentum to pierce that resistance, amid the dominance of the main upward medium-term trend, with positive support from the 50-day SMA. 

 

Therefore we expect the stock to return higher, targeting the resistance of 213.00, provided the resistance of 188.44 was breached. 

 

Expected trend for today: Bullish

Stocks Technical Analysis

United States Analysis

Stocks

Harley Davidson tries to recoup some losses - Analysis - 31-03-2023
1 day ago
Harley Davidson's stock rose in the intraday levels, buoyed by positive signals from the RSI while ...
United States Analysis

Stocks

3M returns lower - Analysis - 31-03-2023
1 day ago
3M's stock (MMM) returned lower in the intraday levels amid the complete dominance of the main ...
United States Analysis

Stocks

Kohl's ends cautiously higher - Analysis - 31-03-2023
1 day ago
KOHL's Corporation's stock (KSS) rose in the intraday levels while trying to recoup some recent ...