CHEVRON CORP. - 1H - Technical analysis published on 05/06/2020 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bullish
Technical indicators
22%
44%
33%
My opinion
Bullish above 89.88 USD
My targets
94.83 USD (+4.51%)
95.74 USD (+5.51%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the support located at 89.88 USD remains possible. It is advisable to trade CHEVRON CORP. with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 89.88 USD. The next bullish objective for buyers is set at 94.83 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 95.74 USD. If there is any crossing, the next objective would be the resistance located at 103.08 USD. PS: if there is a bearish break in the support located at 89.88 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are indecisive, but do not change the general bullish opinion of this analysis.
FORCE
0
10
0.7
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
CHEVRON CORP. rating 90.74 USD. On the day, this instrument lost -2.32% and was traded between 89.77 USD and 93.46 USD over the period. The price is currently at +1.08% from its lowest and -2.91% from its highest.89.77
93.46
90.74
The Central Gaps scanner detects a bearish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by CHEVRON CORP.:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Abnormal volumes on CHEVRON CORP. were detected by the Central Volumes scanner:
Abnormal volumes
Timeframe : 50 days
Technical
A technical analysis in 1H of this CHEVRON CORP. chart shows a bullish trend. 64.29% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Bearish price crossover with Moving Average 20
Type : Bearish
Timeframe : 1 hour
On the 18 technical indicators analysed, 4 are bullish, 6 are neutral and 8 are bearish. Central Indicators, the detector scanner for these technical indicators has recently detected several signals:
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
MACD crosses DOWN its Moving Average
Type : Bearish
Timeframe : 1 hour
Central Patterns, the market scanner focusing on chart patterns, resistances and supports found these results:
Horizontal resistance is broken
Type : Bullish
Timeframe : 1 hour
Resistance of triangle is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 77.51 | 87.05 | 89.88 | 90.74 | 95.74 | 103.08 | 118.77 |
| Change (%) | -14.58% | -4.07% | -0.95% | - | +5.51% | +13.60% | +30.89% |
| Change | -13.23 | -3.69 | -0.86 | - | +5.00 | +12.34 | +28.03 |
| Level | Major | Intermediate | Major | - | Intermediate | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 89.33 | 91.00 | 91.95 | 93.62 | 94.57 | 96.24 | 97.19 |
| Camarilla | 92.17 | 92.41 | 92.65 | 92.89 | 93.13 | 93.37 | 93.61 |
| Woodie | 88.96 | 90.82 | 91.58 | 93.44 | 94.20 | 96.06 | 96.82 |
| Fibonacci | 91.00 | 92.00 | 92.62 | 93.62 | 94.62 | 95.24 | 96.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 75.09 | 80.48 | 84.96 | 90.35 | 94.83 | 100.22 | 104.70 |
| Camarilla | 86.73 | 87.63 | 88.54 | 89.44 | 90.35 | 91.25 | 92.15 |
| Woodie | 74.64 | 80.25 | 84.51 | 90.12 | 94.38 | 99.99 | 104.25 |
| Fibonacci | 80.48 | 84.25 | 86.58 | 90.35 | 94.12 | 96.45 | 100.22 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 46.36 | 56.99 | 74.49 | 85.12 | 102.62 | 113.25 | 130.75 |
| Camarilla | 84.26 | 86.84 | 89.42 | 92.00 | 94.58 | 97.16 | 99.74 |
| Woodie | 49.81 | 58.71 | 77.94 | 86.84 | 106.07 | 114.97 | 134.20 |
| Fibonacci | 56.99 | 67.73 | 74.37 | 85.12 | 95.86 | 102.50 | 113.25 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 43.61 | |
| MACD (12,26,9): | 0.4500 | |
| Directional Movement: | -10.43 | |
| AROON (14): | 57.14 | |
| DEMA (21): | 92.48 | |
| Parabolic SAR (0,02-0,02-0,2): | 95.05 | |
| Elder Ray (13): | -1.52 | |
| Super Trend (3,10): | 94.95 | |
| Zig ZAG (10): | 90.17 | |
| VORTEX (21): | 1.0200 | |
| Stochastique (14,3,5): | 35.79 | |
| TEMA (21): | 92.38 | |
| Williams %R (14): | -76.39 | |
| Chande Momentum Oscillator (20): | 0.79 | |
| Repulse (5,40,3): | -3.5700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0900 | |
| Courbe Coppock: | 7.21 |
| MA7: | 91.53 | |
| MA20: | 87.19 | |
| MA50: | 81.85 | |
| MA100: | 97.46 | |
| MAexp7: | 91.97 | |
| MAexp20: | 91.85 | |
| MAexp50: | 90.63 | |
| MAexp100: | 88.16 | |
| Price / MA7: | -0.86% | |
| Price / MA20: | +4.07% | |
| Price / MA50: | +10.86% | |
| Price / MA100: | -6.90% | |
| Price / MAexp7: | -1.36% | |
| Price / MAexp20: | -1.23% | |
| Price / MAexp50: | +0.10% | |
| Price / MAexp100: | +2.90% |
News
Don"t forget to follow the news on CHEVRON CORP.. At the time of publication of this analysis, the latest news was as follows:
- Chevron Announces First Quarter 2020 Results
- Chevron Announces Quarterly Dividend
- Chevron to Hold Virtual Stockholders Meeting
- Chevron Sells Azerbaijan Assets to MOL Hungarian Oil and Gas
- Thinking about trading options or stock in Bristol-Myers Squibb, Chevron Corp, Docusign, Intel Corp, or Tesla?
This member declared not having a position on this financial instrument or a related financial instrument.
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