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Chevron Corp Crosses Below its 10-day MA (CVX)

By David Diaz

Today, shares of Chevron Corp (NYSE:CVX) have crossed bearishly below their 10-day moving average of $124.83 on a volume of 434K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Chevron Corp has traded in a range of $100.22 to $131.08 and is now at $124.49, 24% above that low. The 200-day and 50-day moving averages have moved 0.03% higher and 0.99% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Chevron Corp on January 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $109.68. Since that recommendation, shares of Chevron Corp have risen 14.8%. We continue to monitor CVX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses chevron corp

Ticker(s): CVX