Chevron analysis
Chevron's weekly trend has been up since June of 2015 and it recently breached a strong weekly support only to quickly get back over it. It has a strong weekly support of 102.69 so as long as the week closes above that price the weekly support will remain in effect.
Now Chevron is trading in a small zone between roughly 108-118.
Some long candles formed with a bottom of around 108 which created a short-term support and Friday's move was pretty bullish. I would expect the uptrend to continue when it closes above 117.90 which is currently the short-term resistance.
Earnings were above expectations a few weeks ago and it is currently trading at last years prices with better earnings.
A close under 108 would indicate more sideways movement for unknown duration. I'll keep you posted. 2/25
Now Chevron is trading in a small zone between roughly 108-118.
Some long candles formed with a bottom of around 108 which created a short-term support and Friday's move was pretty bullish. I would expect the uptrend to continue when it closes above 117.90 which is currently the short-term resistance.
Earnings were above expectations a few weeks ago and it is currently trading at last years prices with better earnings.
A close under 108 would indicate more sideways movement for unknown duration. I'll keep you posted. 2/25
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.