Chevron tests resistance

Note: This section contains information in English only.
Source: Dukascopy Bank SA


2023 was a year of declines for oil stocks, as prices plummeted at the end of the year. However, since November the prices have recovered and, despite lower earnings, oil companies have increased their dividends and share buy backs. Namely, investors get more value.

In regards to Chevron stock, the price has found and confirmed a support zone at 139.60/141.80. The zone has kept the pair up since November. Meanwhile, during late 2023 the price recovered on good annual results and touched the 153.70/154.45 zone. The zone acted as resistance. In general, the stock has fluctuated between the two zones throughout 2024. Most recently, the stock price was once again testing the resistance zone.

A breaking above 154.45 would face the potential resistance of the 200-day simple moving average near 155.50. A failure of the moving average to keep the stock down is expected to result in the price reaching the 160.00 mark. Higher above, note the 165.00 level and the late 2023 high level range near 170.00.

In the case of a decline, take into account that the 50-day simple moving average is capable of providing support and resistance. At the time of this review, the moving average was located near 147.50. If the SMA fails, the stock could decline to the 139.60/141.80 range.
Back to articles

Actual Topics

Thu, 08 Feb 2024 15:33:31 GMT

British Petroleum breaks pattern

2023 was a year of declines for oil stocks, as prices plummeted at the end of the year. However, since November the prices have recovered and, despite lower earnings, oil companies have increased their dividends and share buy backs. Namely, investors get more value. Despite British Petroleum annual profit halving in 2023 to $13.8 billion, the company has revealed

Wed, 07 Feb 2024 15:21:12 GMT

AMD is consolidating

AMD announced in its autumn quarterly earnings event that it has developed a chip that is set to compete with NVidia and take away a market share from it. After the event, the company's stock price surged in a channel up patter. Afterwards, the expectations of possible Federal Reserve rate cuts boosted the surge and caused parabolic gains that

Subscribe to "Fundamental Analysis" feed

Подписаться
Чтобы узнать больше о торговой платформе Forex/CFD, SWFX и получить другую информацию, связанную с торговлей,
пожалуйста, звоните нам или запросите обратный звонок.
Для получения дополнительной информации относительно сотрудничества,
пожалуйста, позвоните нам или запросите обратный звонок.
Чтобы узнать больше о торговых платформах (Forex / Бинарные опционы) от Dukascopy Bank, торговой площадке SWFX или получить другую информацию, связанную с торговлей,
пожалуйста, позвоните нам или запросите обратный звонок.
Чтобы узнать больше о торговой платформе Forex/CFD, SWFX и получить другую информацию, связанную с торговлей,
пожалуйста, звоните нам или запросите обратный звонок.
Чтобы узнать больше о Крипто / CFD / Forex торговых платформах, SWFX и получить другую информацию, связанную с торговлей,
пожалуйста, позвоните нам или запросите обратный звонок.
Чтобы узнать больше о Представляющих агентах и получить другую информацию, связанную с торговлей,
пожалуйста, позвоните нам или запросите обратный звонок.
Для получения дополнительной информации относительно сотрудничества,
пожалуйста, позвоните нам или запросите обратный звонок.