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CVX

Chevron (CVX): Bottom in Sight?Chevron ( NYSE:CVX ) has maintained a wide range between $167 and $137 since March 2022, with one notable push above this range likely corresponding to the completion of wave 3. The focus is now on identifying the wave 4 bottom, which we anticipate to form between the 50-61.8% Fibonacci retracement levels, or $128–$113. This range is supported by key technical indicators, including a High Volume Node Edge and a Point of Control (POC) within this area, adding significant confluence. From a macroeconomic perspective, Chevron faces challenges from declining crude oil prices, which is impacting investor sentiment. Despite a brief surge in oil-and-gas stocks following Donald Trump’s victory, this momentum has not sustained across the sector. Broader bearish factors such as weak Chinese demand, global overproduction, and OPEC’s indecision on further cuts add to the uncertainty. Bullish bets on oil due to geopolitical tensions have largely underperformed over the last two years, further pressuring the commodity and Chevron. Should NYSE:CVX reclaim the range high at $167, it could signal a trend reversal, suggesting the wave 4 bottom may already have formed at $135.55, the last significant low. However, if the resistance holds, further downside into the targeted area seems likely. We will continue monitoring how global tensions, oil price fluctuations, and broader market conditions impact Chevron’s performance. Until then, patience is key as we await a clear signal.
NYSE:CVXLong
by freeguy_by_wmc
CHEVRON Ideal sell at the top of the 2-year Channel Down.Chevron (CVX) has been trading within a long-term Channel Down since the November 14 2022 High (almost 2 years). The price is currently on a 4 week rejection streak on the 1W MA50 (blue trend-line) but despite the selling pressure, it closes every 1W candle flat, refusing to decline. This is most likely the same accumulation/ pull-back phase that the previous two Bullish Legs went through upon testing the 1W MA50. They both eventually broke it and peaked at the top of the Channel Down. We expect a similar peak within the 1W MA100 (green trend-line) and the 1W MA50. Once the 1W RSI also peaks and starts reversing (red arc), we will sell and target 132.00 (just above the 1.236 Fibonacci extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:CVX
by TradingShot
Chevron (CVX) Stock Rallies Amid Middle East TensionsChevron (NYSE: NYSE:CVX ), along with other energy giants like ExxonMobil and ConocoPhillips, has been making significant gains as oil prices surge due to heightened tensions in the Middle East. The geopolitical instability, particularly Iran’s missile strike on Israel, has raised concerns over potential disruptions in global oil supplies, driving up crude prices and, consequently, energy stocks. Overview Brent crude, the global oil benchmark, rose 2.8%, reaching $75.59 per barrel, while U.S. West Texas Intermediate (WTI) futures surged nearly 3%, pushing prices close to $72 per barrel. This sharp increase in oil prices reflects market fears of supply constraints as the conflict in the Middle East escalates. Given Iran’s role as a major oil producer, accounting for about 5% of the world’s total output, any prolonged conflict could have significant ramifications for the global energy market. Investors have responded to these concerns by flocking to energy stocks, with Chevron’s stock gaining 1.6% in premarket trading. Chevron’s rise is also supported by its recent $53 billion acquisition of Hess (HES), which positions the company for long-term growth in the energy sector. The acquisition further strengthens Chevron’s portfolio by expanding its presence in key oil-producing regions, such as the prolific Guyana oil fields, adding to its already robust operations. Despite the surge in oil prices, Chevron (NYSE: NYSE:CVX ) is also benefitting from strong market fundamentals. The company’s strong year-to-date performance is reflected in its 20% gain, showcasing investor confidence in the long-term viability of energy stocks amid ongoing geopolitical challenges. Analysts have pointed to Chevron’s disciplined capital spending, robust cash flow, and strategic acquisitions as factors bolstering its resilience during volatile market conditions. Technical Analysis From a technical perspective, Chevron’s stock is showing positive momentum. As of Wednesday, NYSE:CVX is up 0.71%, with shares trading above the 50-day moving average, signaling strength in the current uptrend. The stock’s relative strength index (RSI) currently sits at 62.21, approaching the overbought region, indicating strong buying pressure. Investors should closely monitor the RSI, as a move above 70 could signal overbought conditions, possibly leading to a short-term correction. Chevron (NYSE: NYSE:CVX ) has been trading in line with the broader energy sector, benefiting from rising oil prices. The stock is following a bullish pattern, breaking above key resistance levels and trading near recent highs. The 50-day moving average (MA) provides critical support, indicating that Chevron's bullish momentum is likely to persist unless a significant downside event occurs. Investors looking to capitalize on the stock’s strong uptrend should keep an eye on Chevron’s RSI and other momentum indicators, as the current trajectory suggests continued strength in the energy sector. Geopolitical Uncertainty Driving Oil Prices The ongoing conflict in the Middle East, especially Iran's involvement, has introduced heightened volatility to the energy market. The potential for broader conflict in the region raises the risk of supply disruptions, further fueling upward pressure on oil prices. UBS Global Wealth Management’s CIO Mark Haefele noted that positions in oil could act as a portfolio hedge against a worsening crisis in the Middle East, making energy stocks like Chevron an attractive option for risk-averse investors. Moreover, while the firm’s base case is not for an all-out war, the potential for sustained tensions could continue to impact oil prices, benefitting energy stocks. Investors should also consider the broader market implications, including the potential for higher inflation driven by rising energy costs. Conclusion While Chevron’s stock may experience fluctuations in the near term, the overall outlook for the energy sector remains strong, supported by both technical and fundamental factors. As global energy markets brace for further volatility, Chevron is well-positioned to navigate the challenges ahead and deliver long-term value to its shareholders.
NYSE:CVXLong
by DEXWireNews
Comprehensive Analysis of Chevron (CVX) - 16/09/2024Chevron (CVX) is an established energy company listed in the S&P 500 index. Technical Analysis: I use moving averages as zones rather than lines. On the weekly chart, I applied the 200 EMA and 200 SMA, shading the area between them in orange to create a moving average zone. Currently, prices are finding support in this zone on the weekly chart. Additionally, the $140 level acts as a demand zone and creates confluence. On the daily chart, the ATR-based Keltner Channels are touching the lower band, indicating that downside volatility has reached its natural limits. There is also a bullish order block present. On the 4-hour chart, I use the Inverse Fisher RSI. It filters out noise and provides fewer false signals compared to the standard RSI. On the 1-hour chart, there is a noticeable decline in volume. Remember, without volume, it is difficult to break through support or resistance levels. From a technical standpoint, different timeframes are giving BUY signals. Fundamental Analysis: The company has a price-to-earnings ratio of 13.81, which is considered normal for the sector. In the last quarter, Chevron reported total revenue of $49.66 billion and a net profit of $4.43 billion, resulting in a 9% profit margin, which meets my no-loss rule. Chevron has strong return on equity, and growth continues. Its current ratio is 1.16, meaning its short-term assets exceed its liabilities, indicating financial stability. The price-to-book ratio is 1.60, which is excellent for a company of this size. Chevron's total assets stand at $260 billion, while total liabilities are around $100 billion, meaning the company's debt-to-assets ratio is 38.51%, which is highly acceptable. The company’s annual dividend yield is 4.55%, providing a potential bonus for long-term investors. With CVX trading near its 52-week low and showing positive signals, it could be a good choice for portfolio managers.
NYSE:CVXLong
by Trader-Berke
Is oil signalling a recession? Oil has really started to free fall. The death cross on the daily chart has occurred. this is where the 50 MA intersects with the 200 MA in a downtrend. This often implies more downside to the medium and long term but is often a great short term long signal. Usually when you get this signal the market makers bounce the stock or commodity a bit before taking it lower. We are hitting a massive multi year trend line going back to 2022 that should act as some support. XLE looks ready for 1 more down leg before a swing tradable low is in. Energy does have a tendency to fall precipitously so understanding oil can keep falling if investors fear the worst or a recession.
AMEX:XLE
by Trading-Capital
5
CVX Technical Analysis in a Weekly TimeframeHello everyone, I’m Cryptorphic. I’ve been sharing insightful charts and analysis for the past seven years. Follow me for: ~ Unbiased analyses on trending altcoins. ~ Identifying altcoins with 10x-50x potential. ~ Futures trade setups. ~ Daily updates on Bitcoin and Ethereum. ~ High time frame (HTF) market bottom and top calls. ~ Short-term market movements. ~ Charts supported by critical fundamentals. Now, let’s dive into this chart analysis: CVX recently hit its all-time low at $1.80, where the support trendline is holding the price. The chart shows an expanding triangle pattern, while the RSI is forming a bullish divergence, suggesting that the price may accelerate toward the resistance trendline. Key levels: - Support/Accumulation: $1.6 to CMP. - Resistance/Target: $4. - Higher Target: $7.5. DYOR, NFA. Please hit the like button to support my content and share your thoughts in the comment section. Feel free to request any chart analysis you’d like to see! Thank you! #PEACE
by Cryptorphic
Chevron (CVX): Approaching a Critical Support ZoneIt's been a while since we last analyzed CVX, but we’re now approaching a very important area on the chart. You might wonder why we’re focusing on the weekly chart instead of the daily. The reason is simple: sometimes you need to zoom out to get a clearer perspective, and in this case, the weekly chart holds far more significance than the daily. There’s no point in searching for entries on the daily when the more crucial entry level on the weekly is just below. We’re looking to find support at the HVN POC (High Volume Node Point of Control) at $117, which would also serve as a retest after the last breakout in 2022. We’re still determining the best way to place a limit order at this level, but for now, we’re waiting on the sidelines with alerts set and a light game plan ready.
NYSE:CVXLong
by freeguy_by_wmc
See you later ChevronNYSE:CVX note the following directional arrows are concepts and how I want to enter With firms rotating out of AMEX:XLE we can expect some of the sectors top holdings and laggers get downside potential. Looking more into this I found NYSE:CVX to be the best candidate. NYSE:CVX and other gas stocks seem to be the ones catching the momentum down. Chevron also is following the same structure as AMEX:XLE which if AMEX:XLE gets the drop Monday we can expect NYSE:CVX to follow. Expected Range - Upside $158.78 Downside $151.82 Key Levels - $153.37 - $153.59, $155.05 - $155.30, $155.61 - $156.94 Rating - Rotation out of AMEX:XLE +5, Rising volume near pivot +1, formed a base (slowed down)/topping wicks after break of base +1, same weakness as AMEX:XLE +1 8/10 Bullish, 2/10 Bearish
NYSE:CVXShort
by OakFDom