CHEVRON CORP. - Weekly - Technical analysis published on 08/30/2022 (GMT)
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- Timeframe : Weekly
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
61%
11%
28%
My opinion
Bullish above 152.28 USD
My targets
179.50 USD (+11.19%)
My analysis
The basic bullish trend is very strong on CHEVRON CORP. but the short term shows some signs of running out of steam. However, a purchase could be considered as long as the price remains above 152.28 USD. Crossing the first resistance at 179.50 USD would be a sign of a potential new surge in the price. Caution, a return to below 152.28 USD would be a sign of a consolidation phase in the short-term basic trend. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7
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This analysis was given by rbrittonbrownjr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHEVRON CORP. price is 161.43 USD. Over 5 days, this instrument lost -0.35% and was traded between 162.46 USD and 166.13 USD over the period. The price is currently at -0.63% from its lowest point and -2.83% from its highest point.162.46
166.13
161.43
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this Weekly chart of CHEVRON CORP. indicates that the overall trend is strongly bullish. 89.29% of the signals given by moving averages are bullish. The slightly bullish signals given by the short-term moving averages show a weakening of the global trend. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, 11 technical indicators on 18 studied are currently bullish. The Central Indicators scanner found no further results concerning independent technical indicators.
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Near horizontal support
Type : Bullish
Timeframe : Weekly
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects a bearish signal that could support the hypothesis of a small drop in the very short term:
Bearish doji star
Type : Bearish
Timeframe : Weekly
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 96.08 | 108.31 | 134.72 | 161.43 | 162.31 | 179.50 |
| Change (%) | -40.48% | -32.91% | -16.55% | - | +0.55% | +11.19% |
| Change | -65.35 | -53.12 | -26.71 | - | +0.88 | +18.07 |
| Level | Minor | Major | Intermediate | - | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 160.05 | 161.84 | 163.24 | 165.03 | 166.43 | 168.22 | 169.62 |
| Camarilla | 163.75 | 164.05 | 164.34 | 164.63 | 164.92 | 165.22 | 165.51 |
| Woodie | 159.85 | 161.74 | 163.04 | 164.93 | 166.23 | 168.12 | 169.42 |
| Fibonacci | 161.84 | 163.06 | 163.82 | 165.03 | 166.25 | 167.01 | 168.22 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 144.80 | 149.61 | 156.51 | 161.32 | 168.22 | 173.03 | 179.93 |
| Camarilla | 160.19 | 161.26 | 162.34 | 163.41 | 164.48 | 165.56 | 166.63 |
| Woodie | 145.85 | 150.13 | 157.56 | 161.84 | 169.27 | 173.55 | 180.98 |
| Fibonacci | 149.61 | 154.08 | 156.85 | 161.32 | 165.79 | 168.56 | 173.03 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 109.55 | 120.45 | 141.38 | 152.28 | 173.21 | 184.11 | 205.04 |
| Camarilla | 153.56 | 156.48 | 159.39 | 162.31 | 165.23 | 168.15 | 171.06 |
| Woodie | 114.57 | 122.96 | 146.40 | 154.79 | 178.23 | 186.62 | 210.06 |
| Fibonacci | 120.45 | 132.61 | 140.12 | 152.28 | 164.44 | 171.95 | 184.11 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 57.88 | |
| MACD (12,26,9): | 4.4200 | |
| Directional Movement: | 9.05 | |
| AROON (14): | -35.71 | |
| DEMA (21): | 161.59 | |
| Parabolic SAR (0,02-0,02-0,2): | 132.05 | |
| Elder Ray (13): | 8.60 | |
| Super Trend (3,10): | 171.50 | |
| Zig ZAG (10): | 164.63 | |
| VORTEX (21): | 0.9800 | |
| Stochastique (14,3,5): | 61.85 | |
| TEMA (21): | 157.81 | |
| Williams %R (14): | -32.65 | |
| Chande Momentum Oscillator (20): | -9.19 | |
| Repulse (5,40,3): | 7.0400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.4800 | |
| Courbe Coppock: | 10.60 |
| MA7: | 161.78 | |
| MA20: | 157.62 | |
| MA50: | 149.98 | |
| MA100: | 157.99 | |
| MAexp7: | 158.49 | |
| MAexp20: | 154.77 | |
| MAexp50: | 141.21 | |
| MAexp100: | 124.86 | |
| Price / MA7: | -0.22% | |
| Price / MA20: | +2.42% | |
| Price / MA50: | +7.63% | |
| Price / MA100: | +2.18% | |
| Price / MAexp7: | +1.86% | |
| Price / MAexp20: | +4.30% | |
| Price / MAexp50: | +14.32% | |
| Price / MAexp100: | +29.29% |
Quotes :
-
15 min delayed data
-
NYSE Stocks
News
The last news published on CHEVRON CORP. at the time of the generation of this analysis was as follows:
- Thinking about trading options or stock in Apple, Meta, Broadcom, Chevron, or Starbucks?
- Thinking about trading options or stock in Microsoft, Best Buy, Apple, Chevron, or Amazon?
- Advisory: Chevron to Present at Barclays CEO Energy-Power Conference
- Thinking about trading options or stock in Apple, Canadian Solar, GameStop, Chevron, or Nvidia?
- Chevron’s Anoop Kumar Named President of the National Lubricating Grease Institute
This member declared not having a position on this financial instrument or a related financial instrument.
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