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Look for Shares of Chevron Corp to Potentially Rebound after Yesterday's 2.56% Sell Off

By Nick Russo

Chevron Corp (NYSE:CVX) traded in a range yesterday that spanned from a low of $113.87 to a high of $115.43. Yesterday, the shares fell 2.6%, which took the trading range below the 3-day low of $117.06 on volume of 2.0 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

SmarTrend is monitoring the recent change of momentum in Chevron Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chevron Corp in search of a potential trend change.

In the past 52 weeks, Chevron Corp share prices have been bracketed by a low of $107.54 and a high of $133.88 and are now at $114.24, 6% above that low price. The 200-day and 50-day moving averages have moved 0.09% higher and 0.11% lower over the past week, respectively.

Keywords: rebounders chevron corp

Ticker(s): CVX