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After Yesterday's Rally of 1.10% Shares Could Potentially Pullback

By Nick Russo

Chevron Corp (NYSE:CVX) traded in a range yesterday that spanned from a low of $117.33 to a high of $117.70. Yesterday, the shares gained 1.1%, which took the trading range above the 3-day high of $117.26 on volume of 96,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Chevron Corp has traded in a range of $100.22 to $127.34 and is now at $117.46, 17% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

SmarTrend is tracking the current trend status for Chevron Corp and will alert subscribers who have CVX in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders chevron corp

Ticker(s): CVX