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Chevron Crosses Above its 10-day MA (CVX)

By Amy Schwartz

Today, shares of Chevron (NYSE:CVX) have crossed bullishly above their 10-day moving average of $102.20 on a volume of 1.4 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Chevron has traded in a range of $69.58 to $109.93 and is now at $102.94, 48% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 1.30% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Chevron on February 17th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $86.84. Since that recommendation, shares of Chevron have risen 17.0%. We continue to monitor CVX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses Chevron

Ticker(s): CVX