Chevron Stock Forecast
Chevron stock price up 0.147% on Tuesday
(Updated on Jul 02, 2024)
The Chevron stock price gained 0.147% on the last trading day (Tuesday, 2nd Jul 2024), rising from $156.52 to $156.75. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.46% from a day low at $155.45 to a day high of $157.72. The price has risen in 7 of the last 10 days and is up by 2.32% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 1 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $914.40 million.
The stock lies in the middle of a falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.24% during the next 3 months and, with a 90% probability hold a price between $144.89 and $154.93 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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CVX Signals & Forecast
There are mixed signals in the stock today. 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 $157.10 and $157.61. A break-up above any of these levels will issue buy signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 2.74%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Chevron stock
Chevron finds support from accumulated volume at $155.95 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 $2.27 between high and low, or 1.46%. For the last week the stock has had daily average volatility of 1.45%.
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 Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Chevron Corporation to open at $156.64, and during the day (based on 14 day Average True Range), to move between $154.11 and $159.39, which gives a possible trading interval of +/-$2.64 (+/-1.68%) up or down from last closing price. If Chevron Corporation takes out the full calculated possible swing range there will be an estimated 3.36% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $155.95 (0.51%) than the resistance at $161.27 (2.88%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Chevron Corporation stock A Buy?
Chevron holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -2.367 Sell Candidate Unchanged
Predicted Opening Price for Chevron Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $156.64 ( 0.0702%) | $156.75 |
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 | |
|---|---|---|
| R3 | 158.91 | 1.38% |
| R2 | 158.04 | 0.82% |
| R1 | 157.51 | 0.483% |
| Price | 156.75 | |
| S1 | 155.77 | -0.623% |
| S2 | 155.24 | -0.97% |
| S3 | 154.37 | -1.52% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 162.67 | 3.78% |
| R2 | 162.30 | 3.54% |
| R1 | 161.27 | 2.88% |
| Price | 156.75 | |
| S1 | 155.95 | -0.510% |
| S2 | 155.28 | -0.94% |
| S3 | 154.22 | -1.61% |
CVX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 26, 2024 | May 16, 2024 | Jun 10, 2024 | $1.63 | 1.04% |
| 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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