CHEVRON CORP. - Weekly - Technical analysis published on 04/28/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Weekly
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
39%
28%
33%
My opinion
Bullish above 152.08 USD
My targets
176.56 USD (+5.76%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on CHEVRON CORP. as long as the price remains well above 152.08 USD. The buyers' bullish objective is set at 176.56 USD. A bullish break in this resistance would boost the bullish momentum. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators are indecisive in the very short term but do not change the general bullish opinion of this analysis.
Force
0
10
5.4
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This analysis was given by jarias81197. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The CHEVRON CORP. price is 166.95 USD. Over 5 days, this instrument lost -1.28% and was traded between 165.07 USD and 172.38 USD over the period. The price is currently at +1.14% from its lowest point and -3.15% from its highest point.165.07
172.38
166.95
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a 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. The signals given by moving averages are 85.71% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : Weekly
In fact, of the 18 technical indicators analysed by Central Analyzer, 7 are bullish, 6 are neutral and 5 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
Williams %R indicator is back under -50
Type : Bearish
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows several results that can have an impact on the price change:
Near horizontal resistance
Type : Bearish
Timeframe : Weekly
Near resistance of channel
Type : Bearish
Timeframe : Weekly
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
Price
| S3 | S2 | S1 | Price | R1 | |
|---|---|---|---|---|---|
| ProTrendLines | 106.41 | 132.51 | 152.08 | 166.95 | 176.56 |
| Change (%) | -36.26% | -20.63% | -8.91% | - | +5.76% |
| Change | -60.54 | -34.44 | -14.87 | - | +9.61 |
| Level | Major | Intermediate | Major | - | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 163.23 | 164.15 | 165.55 | 166.47 | 167.87 | 168.79 | 170.19 |
| Camarilla | 166.31 | 166.53 | 166.74 | 166.95 | 167.16 | 167.38 | 167.59 |
| Woodie | 163.47 | 164.27 | 165.79 | 166.59 | 168.11 | 168.91 | 170.43 |
| Fibonacci | 164.15 | 165.04 | 165.58 | 166.47 | 167.36 | 167.90 | 168.79 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 162.73 | 165.37 | 167.25 | 169.89 | 171.77 | 174.41 | 176.29 |
| Camarilla | 167.88 | 168.29 | 168.71 | 169.12 | 169.53 | 169.95 | 170.36 |
| Woodie | 162.34 | 165.18 | 166.86 | 169.70 | 171.38 | 174.22 | 175.90 |
| Fibonacci | 165.37 | 167.10 | 168.17 | 169.89 | 171.62 | 172.69 | 174.41 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 136.22 | 143.07 | 153.11 | 159.96 | 170.00 | 176.85 | 186.89 |
| Camarilla | 158.52 | 160.06 | 161.61 | 163.16 | 164.71 | 166.26 | 167.81 |
| Woodie | 137.83 | 143.87 | 154.72 | 160.76 | 171.61 | 177.65 | 188.50 |
| Fibonacci | 143.07 | 149.52 | 153.51 | 159.96 | 166.41 | 170.40 | 176.85 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 50.93 | |
| MACD (12,26,9): | 0.3500 | |
| Directional Movement: | -0.07 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 167.49 | |
| Parabolic SAR (0,02-0,02-0,2): | 150.82 | |
| Elder Ray (13): | 2.35 | |
| Super Trend (3,10): | 182.78 | |
| Zig ZAG (10): | 166.95 | |
| VORTEX (21): | 0.9000 | |
| Stochastique (14,3,5): | 54.05 | |
| TEMA (21): | 164.33 | |
| Williams %R (14): | -52.99 | |
| Chande Momentum Oscillator (20): | -1.02 | |
| Repulse (5,40,3): | -2.3400 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0500 | |
| Courbe Coppock: | 10.95 |
| MA7: | 169.01 | |
| MA20: | 168.92 | |
| MA50: | 163.75 | |
| MA100: | 168.51 | |
| MAexp7: | 166.44 | |
| MAexp20: | 166.48 | |
| MAexp50: | 160.20 | |
| MAexp100: | 145.01 | |
| Price / MA7: | -1.22% | |
| Price / MA20: | -1.17% | |
| Price / MA50: | +1.95% | |
| Price / MA100: | -0.93% | |
| Price / MAexp7: | +0.31% | |
| Price / MAexp20: | +0.28% | |
| Price / MAexp50: | +4.21% | |
| Price / MAexp100: | +15.13% |
Quotes :
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15 min delayed data
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NYSE Stocks
News
Don't forget to follow the news on CHEVRON CORP.. At the time of publication of this analysis, the latest news was as follows:
-
Week Ahead starting 24/4/23: Global growth data; UBS, Meta and Chevron earnings
- Walmart Teams up With Cummins and Chevron to Debut First 15-liter Renewable Natural Gas Engine on the Road in North America
- Chevron Road Trip Demonstrates Renewable Gasoline Blend
- Chevron and the Angelicoussis Group Announce Ammonia Carrier Joint Study Agreement
- Advisory: Chevron Corporation’s 1Q 2023 Earnings Conference Call and Webcast
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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