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SmarTrend Watching for Potential Pullback in Shares of Chevron After 1.48% Gain

By Amy Schwartz

Chevron (NYSE:CVX) traded in a range yesterday that spanned from a low of $102.31 to a high of $103.70. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $102.25 on volume of 2.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Chevron has traded in a range of $69.58 to $109.93 and is now at $103.20, 48% above that low. The 200-day and 50-day moving averages have moved 0.18% higher and 1.30% higher over the past week, respectively.

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

Keywords: rebounders Chevron

Ticker(s): CVX