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Chevron Corp (CVX) Approaches New Downside Target of $125.23

By Shiri Gupta

Shares of Chevron Corp (NYSE:CVX) opened today below their pivot of $127.28 and have already reached the first level of support at $126.17. Should the shares continue to fall, the support pivots of $125.23 and $123.18 will be of interest.

Potential upside of 11.1% exists for Chevron Corp, based on a current level of $126.70 and analysts' average consensus price target of $140.81. The stock should find initial support at its 50-day moving average (MA) of $124.11 and further support at its 200-day MA of $119.55.

In the past 52 weeks, shares of Chevron Corp have traded between a low of $102.55 and a high of $133.88 and are now at $126.70, which is 24% above that low price. The 200-day and 50-day moving averages have moved 0.25% higher and 0.69% higher over the past week, respectively.

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: pivot alerts chevron corp

Ticker(s): CVX