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Upgrade Alert for Chevron (CVX)

By David Diaz

Chevron (NYSE:CVX) was upgraded from Hold to Buy at Argus Research today. The stock closed yesterday at $92.76 on volume of 19.1 million shares, above average daily volume of 10.1 million.

Chevron (NYSE:CVX) has potential upside of 3.9% based on a current price of $92.76 and analysts' consensus price target of $96.37. The stock should hit resistance at its 200-day moving average (MA) of $94.31, as well as support at its 50-day MA of $90.53.

Chevron Corporation is an integrated energy company with operations in countries located around the world. The Company produces and transports crude oil and natural gas. Chevron also refines, markets, and distributes fuels as well as is involved in chemical operations, mining operations, power generation and energy services.

Over the past year, Chevron has traded in a range of $69.58 to $114.45 and closed yesterday at $92.76, 33% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.3%.

SmarTrend is tracking the current trend status for Chevron and will alert subscribers who have CVX in their portfolio or watchlist when shares have changed trend direction.

Keywords: analyst upgrades/downgrades Chevron

Ticker(s): CVX