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Chevron (CVX) Crosses Pivot Point Support at $107.43

By Nick Russo

Shares of Chevron (NYSE:CVX) have bearishly opened below the pivot of $107.93 today and have reached the first support level of $107.43. Should the shares continue to fall, the support pivots of $107.19 and $106.45 will be of interest.

In the past 52 weeks, shares of Chevron have traded between the current low of $0.00 and a high of $119.00 and are now at $0.00. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 1.3%.

Potential upside of 0.0% exists for Chevron, based on a current level of $0.00 and analysts' average consensus price target of $129.23. The stock should find initial resistance at its 200-day moving average (MA) of $88.23 and further resistance at its 50-day MA of $95.54.

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 5.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Chevron

Ticker(s): CVX