• Return to Headlines

After Yesterday's Rally of 1.78% Shares Could Potentially Pullback

By Nick Russo

Chevron Corp (NYSE:CVX) traded in a range yesterday that spanned from a low of $124.68 to a high of $126.54. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $125.04 on volume of 4.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Chevron Corp share prices have been bracketed by a low of $97.53 and a high of $133.88 and are now at $126.29, 30% above that low price. 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 subscribers consider buying shares of Chevron Corp on March 12th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $117.46. Since that recommendation, shares of Chevron Corp have risen 5.8%. We continue to monitor CVX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders chevron corp

Ticker(s): CVX