Chevron Stock Forecast
About Chart
Golden Star
The Golden Star is a refined bullish signal based on the Golden Cross, developed by Jim Stromberg, incorporating additional time frame-specific moving averages and precise price line crossings. This signal is effective for liquid stocks, highlighting short-term upward momentum.
Death Star
The Death Star, developed by Jim Stromberg, is the bearish counterpart to the Golden Star, serving as a sell signal. It is triggered by specific moving average crossings on the price line, indicating a likely prolonged decline in the stock.
Golden Cross
The Golden Cross is a bullish signal where the short-term moving average crosses above the long-term moving average, indicating potential upward momentum.
Death Cross
The Death Cross is a bearish signal where the short-term moving average crosses below the long-term moving average, indicating potential downward momentum.
Pivot Bottom
A Pivot Bottom is a significant low point identified by algorithms developed by StockInvest.us. While it may indicate a short-term directional change, it does not necessarily imply a complete trend reversal. Pivot Bottoms are marked as green circles on the price line.
Pivot Top
A Pivot Top represents a significant high point identified by algorithms developed by StockInvest.us. Similar to Pivot Bottoms, it may suggest a short-term directional change within the main trend, rather than a full trend reversal. Pivot Tops are marked as red circles on the price line.
RSI Oversold
RSI oversold indicates that a stock has declined significantly and may be undervalued, potentially presenting a buying opportunity. This condition is marked by a green line on the chart but should be confirmed with other indicators before taking action.
RSI Overbought
RSI overbought suggests that a stock has risen rapidly and may be due for a pullback. It is marked by a red line on the chart, signaling increased risk. This doesn’t necessarily mean it’s time to sell, but it’s important to monitor closely.
Accumulated Volume
The bars indicate how much stock has been traded on each price during the chart period.
Buy Signal (MA)
Buy signal from moving average indicating potential upward movement.
Sell Signal (MA)
Sell signal from moving average indicating potential downward movement.
AI Analysis of CVX
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Stronger technical forecast for Chevron stock price after Monday trading
(Updated on Oct 14, 2024)
Buy candidate since Oct 14, 2024
The Chevron stock price gained 0.238% on the last trading day (Monday, 14th Oct 2024), rising from $151.42 to $151.78. 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 1.14% from a day low at $150.18 to a day high of $151.89. The price has risen in 8 of the last 10 days and is up by 3.06% over the past 2 weeks. Volume fell on the last day by -663 thousand shares and in total, 3 million shares were bought and sold for approximately $523.71 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 the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $152.86 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -5.88% during the next 3 months and, with a 90% probability hold a price between $126.54 and $143.87 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.
CVX Signals & Forecast
Mostly positive signals in the chart today. The Chevron stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $150.58 and $145.69. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, September 11, 2024, and so far it has risen 10.08%. 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 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.
Support, Risk & Stop-loss for Chevron stock
Chevron finds support from accumulated volume at $147.27 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.71 (1.14%) between high and low. For the last week, the stock has had daily average volatility of 1.38%.
Our recommended stop-loss: $144.65 (-4.70%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 23 days ago.)
Trading Expectations (CVX) For The Upcoming Trading Day Of Tuesday 15th
For the upcoming trading day on Tuesday, 15th we expect Chevron Corporation to open at $151.28, and during the day (based on 14 day Average True Range), to move between $149.04 and $154.52, which gives a possible trading interval of +/-$2.74 (+/-1.81%) up or down from last closing price. If Chevron Corporation takes out the full calculated possible swing range there will be an estimated 3.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $152.62 (0.55%) than the support at $147.27 (2.97%), 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?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score:
1.147
Buy Candidate
Upgraded
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Predicted Fair Opening Price
Predicted fair opening price on October 15, 2024 - $151.28 ( 0.327%). 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 | 152.99 | 0.799% |
| R2 | 152.34 | 0.369% |
| R1 | 151.94 | 0.103% |
| Price | 151.78 | |
| S1 | 150.63 | -0.758% |
| S2 | 150.23 | -1.02% |
| S3 | 149.57 | -1.45% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 161.23 | 6.23% |
| R2 | 157.77 | 3.95% |
| R1 | 152.62 | 0.553% |
| Price | 151.78 | |
| S1 | 147.27 | -2.97% |
| S2 | 144.99 | -4.47% |
| S3 | 144.66 | -4.69% |
CVX Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Aug 02, 2024 | Aug 19, 2024 | Sep 10, 2024 | $1.63 | 1.18% |
| 2 | Apr 26, 2024 | May 16, 2024 | Jun 10, 2024 | $1.63 | 1.04% |
| 3 | Feb 02, 2024 | Feb 15, 2024 | Mar 11, 2024 | $1.63 | 1.07% |
| 4 | Oct 27, 2023 | Nov 16, 2023 | Dec 11, 2023 | $1.51 | 1.05% |
| 5 | Jul 28, 2023 | Aug 17, 2023 | Sep 11, 2023 | $1.51 | 0.92% |
FAQ
Click here for our free guide on how to buy Chevron Stock.
