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Look for Shares of Chevron Corp to Potentially Rebound after Yesterday's 2.98% Sell Off

By Shiri Gupta

Chevron Corp (NYSE:CVX) traded in a range yesterday that spanned from a low of $118.49 to a high of $120.37. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $120.45 on volume of 2.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Chevron Corp share prices have moved between a 52-week high of $127.60 and a 52-week low of $100.22 and are now trading 18% above that low price at $118.49 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has remained constant.

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.

Keywords: rebounders chevron corp

Ticker(s): CVX