Chevron stock: buy or sell
Jul 29th, 2021
Chevron stock brief
- Chevron closed on Wednesday at $101.18 after scarcely moving a 0.57%.
- Chevron is presenting its earnings report on Friday
- Last May price started dropping and printed 2 consecutive lower tops. this downtrend marked a -9.45% loss(from its highs at $111.74).
- Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream.
Should I buy Chevron stock?
All successful traders recommend adhering to a trading strategy and not make decisions based on subjective opinions, rumors or feelings. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best
Is $CVX stock a buy?
In the current situation of Chevron there is not any eligible buy setup. This doesn't mean we expect a selloff for $CVX in the next few days, or that it may not rise higher. Simply, it doesn't match our recommended trading systems
Should I sell Chevron stock?
Knowing when to sell a stock is even more difficult than knowing when to buy it. Trading strategies allow us to avoid impulsive decisions based on our personal feelings or the buzz surrounding the market. We like very simple setups to guide us on when is the best time to sell a stock. Be aware that these setups should not be used for shorting $CVX stock
As a golden rule, you must never hold an open trade that yields greater losses than those expected by the time of purchase. When to sell shares always has to be determined by the stop-loss (automatic or manual)
Is it time to sell Chevron stock?
In the current situation of Chevron there is not any eligible sell setup, so Chevron stock holders with operations in profit can keep their positions
In the last 30 days we couldn't find any rating for Chevron
Chevron stock analysis
From a technical standpoint, Chevron continues in downtrend since last May, and has droppped a -9.45%. The stock drew 3 consecutive lower tops.
Supports and resistances
The current resistance levels are:
The current support levels are:
Since the price broke down the lower band on July 20, the price rebounded by 6.45%
Relative strength index
The RSI crossed up the oversold line of 30 on July 21 after just being in the oversold zone for a single day (what can be considered a strength signal). The RSI value on Wednesday was 47.13
Chevron stock price history
Chevron went public priced at an adjusted price1 of $0.00 on Jan 1962. Since then, CVX stock surged by -, with an average of 0.00% per year. If you had invested thousand dollars in Chevron stock at that time, it would have a value of $inf today.
1: Adjusted price after possible price splits or reverse-splits
Price target for Chevron stock
Nobody knows how much a share will be priced in the future. Banks and financial organisations post their analysis predicting how a particular stock will performance in the future.
The following table shows the price forecasts posted by financial institutions in the last month. Again, these forecasts are not direct recommendations for individual investors and should not be trusted blindly.
We don't have any target price published in the last 4 weeks for Chevron.
Earnings and financials
Chevron ($CVX) releases Q2 earnings report on Friday. Market analysts analysts forecast of $1.54, that is a 71.11% higher than previous quarter.
You must remember that the price action after the financial report release date usually has a higher volatility that may not respect your stop-loss orders.. You can uncover more details about the earnings call and the earnings reports on the Investor Relations section of its website: http://www.chevron.com.
Financial event was hosted by Chevron ($CVX) last April after releasing the financial report. Chevron posted earnings of $0.90 per share on revenue of $32.0 billion. The Wall St estimate was $0.90 per share on revenue of $30.4 billion.For comparison, the EPS for the same quarter last year was $1.29, so reported EPS means a decrease of -30.23%. Revenue just moved on an annualized basis in the , from $297.1B to $310.8B last quarter.
Disclaimer:The opinions expressed in this article are personal and not recommendations for you to buy or sell shares. The author of this report does not know the individual positions of the reader, his or her own finances or his or her own best interests at any given time. All users should speak with their financial advisor before buying or selling any securities Viewpoints are provided for learning reasons only
|Wednesday, July 28th, 2021|
|Day range||$100.28 - $101.81|
|Average true range||$3.07|
|50d mov avg||$104.49|
|100d mov avg||$104.45|
|200d mov avg||$94.52|
|Earnings date||July 30th, 2021|