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Chevron Crosses Below its 10-day MA (CVX)

By James Quinn

Chevron (NYSE:CVX) shares have crossed bearishly below their 10-day moving average of $105.92 on a volume of 1.3 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Over the past year, Chevron has traded in a range of $69.58 to $119.00 and is now at $105.41, 51% above that low. Over the past week, 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 6.2%. 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