Annual Forecast for Chevron (2022)

Share On Facebook
share on Linkedin
Print

Chevron Corporation stock (NYSE:CVX) has also gone downwards, posting a serious threat to bulls and eventually putting a stop to the bullishness that was witnessed from January 2022 till the middle of June.

The ADX period 14, has its line at the level 20, which means that the current momentum in the market is not negligible. The DM+ is above the DM-, which means bears are in control.

The MACD, default parameters, has its signal lines almost crossing the zero line to the downside (the downwards crossing is an eventuality that would happen); whereas the histogram has already fallen below the zero line.

Once the Bearish Confirmation Pattern has been formed completely, further downwards movement would be expected and CVX could then reach the accumulation territories at 140.00, 130.00 and ultimately 120.00.

Teach Yourself Technical Analysis: Teach yourself technical analysis

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20220814 00:19:35