Chevron Stock Forecast
Green day on Friday for Chevron
(Updated on May 24, 2024)
The Chevron stock price gained 0.516% on the last trading day (Friday, 24th May 2024), rising from $156.94 to $157.75. During the last trading day the stock fluctuated 1.06% from a day low at $157.30 to a day high of $158.97. The price has fallen in 8 of the last 10 days and is down by -4.87% for this period. Volume fell on the last day by -2 million shares and in total, 4 million shares were bought and sold for approximately $693.08 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $157.14 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 7.80% during the next 3 months and, with a 90% probability hold a price between $169.39 and $183.30 at the end of this 3-month period.
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CVX Signals & Forecast
Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Chevron stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $159.59 and $161.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -5.16%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Chevron stock
Chevron finds support from accumulated volume at $152.16 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $1.67 between high and low, or 1.06%. For the last week the stock has had daily average volatility of 1.34%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CVX) For The Upcoming Trading Day Of Tuesday 28th
For the upcoming trading day on Tuesday, 28th we expect Chevron Corporation to open at $158.01, and during the day (based on 14 day Average True Range), to move between $155.19 and $160.31, which gives a possible trading interval of +/-$2.56 (+/-1.62%) up or down from last closing price. If Chevron Corporation takes out the full calculated possible swing range there will be an estimated 3.25% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $160.25 (1.58%) than the support at $152.16 (3.54%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Chevron Corporation stock A Buy?
The Chevron stock holds several negative signals and despite the positive trend, we believe Chevron will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -4.402 Sell Candidate Unchanged
Predicted Opening Price for Chevron Corporation of Tuesday, May 28, 2024
| Fair opening price May 28, 2024 | Current price |
|---|---|
| $158.01 ( 0.163%) | $157.75 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CVX
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 159.68 | 1.22 % | |
| R2 | 159.04 | 0.82 % | ||
| R1 | 158.64 | 0.567 % | ||
| Current price: | 157.75 | |||
| Support | S1 | 157.37 | -0.242 % | |
| S2 | 156.97 | -0.492 % | ||
| S3 | 156.34 | -0.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 162.67 | 3.12 % | |
| R2 | 161.27 | 2.23 % | ||
| R1 | 160.25 | 1.58 % | ||
| Current price | 157.75 | |||
| Support | S1 | 152.16 | -3.54% | |
| S2 | 148.88 | -5.62% | ||
| S3 | 148.33 | -5.97% |
CVX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 16, 2024 | Jun 10, 2024 | $1.63 | 1.03% |
| 2 | Feb 02, 2024 | Feb 15, 2024 | Mar 11, 2024 | $1.63 | 1.07% |
| 3 | Oct 27, 2023 | Nov 16, 2023 | Dec 11, 2023 | $1.51 | 1.05% |
| 4 | Jul 28, 2023 | Aug 17, 2023 | Sep 11, 2023 | $1.51 | 0.92% |
| 5 | Apr 28, 2023 | May 18, 2023 | Sep 11, 2023 | $1.51 | 0.92% |
FAQ
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