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Chevron Corp (CVX) Breaks Through Support at $125.12

By James Quinn

Shares of Chevron Corp (NYSE:CVX) opened today below their pivot of $125.68 and have already reached the first level of support at $125.12. Should the shares continue to fall, the support pivots of $124.27 and $122.86 will be of interest.

In the past 52 weeks, Chevron Corp share prices have been bracketed by a low of $100.22 and a high of $131.08 and are now at $125.98, 26% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.8%.

Chevron Corp (NYSE:CVX) has potential upside of 11.8% based on a current price of $125.98 and analysts' consensus price target of $140.81. Chevron Corp shares have support at the 200-day moving average (MA) of $118.98 and additional support at the 50-day MA of $117.94.

SmarTrend recommended that subscribers consider buying shares of Chevron Corp on January 3rd, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $109.68. Since that recommendation, shares of Chevron Corp have risen 14.2%. We continue to monitor CVX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts chevron corp

Ticker(s): CVX