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Bearish Moving Average Cross by Chevron (CVX)

By David Diaz

Today, shares of Chevron (NYSE:CVX) have crossed bearishly below their 10-day moving average of $108.57 on a volume of 1.2 million shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of Chevron have traded between a low of $69.58 and a high of $119.00 and are now at $107.73, which is 55% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that its subscribers protect gains by selling shares of Chevron on January 27th, 2017 by issuing a Downtrend alert when the shares were trading at $113.77. Since that call, shares of Chevron have fallen 4.2%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses Chevron

Ticker(s): CVX