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Watch for Continued Losses in Shares of Chevron Corp (CVX)

By James Quinn

Chevron Corp (NYSE:CVX) traded at a new 52-week low today of $54.32. Approximately 924,000 shares have changed hands today, as compared to an average 30-day volume of 12.2 million shares.

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 and mining operations, power generation, and energy services.

In the past 52 weeks, Chevron Corp share prices have been bracketed by a current low of $54.32 and a high of $127.34 and are now at $54.68. Over the past week, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 3.1%.

There is potential upside of 157.5% for shares of Chevron Corp based on a current price of $54.68 and an average consensus analyst price target of $140.81. The stock should run into initial resistance at its 50-day moving average (MA) of $103.27 and subsequent resistance at its 200-day MA of $115.79.

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

Keywords: 52 week high/lows chevron corp

Ticker(s): CVX