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Chevron

Chevron (CVX): Bottom in Sight?Chevron ( NYSE:CVX ) has maintained a wide range between $167 and $137 since March 2022, with one notable push above this range likely corresponding to the completion of wave 3. The focus is now on identifying the wave 4 bottom, which we anticipate to form between the 50-61.8% Fibonacci retracement levels, or $128–$113. This range is supported by key technical indicators, including a High Volume Node Edge and a Point of Control (POC) within this area, adding significant confluence. From a macroeconomic perspective, Chevron faces challenges from declining crude oil prices, which is impacting investor sentiment. Despite a brief surge in oil-and-gas stocks following Donald Trump’s victory, this momentum has not sustained across the sector. Broader bearish factors such as weak Chinese demand, global overproduction, and OPEC’s indecision on further cuts add to the uncertainty. Bullish bets on oil due to geopolitical tensions have largely underperformed over the last two years, further pressuring the commodity and Chevron. Should NYSE:CVX reclaim the range high at $167, it could signal a trend reversal, suggesting the wave 4 bottom may already have formed at $135.55, the last significant low. However, if the resistance holds, further downside into the targeted area seems likely. We will continue monitoring how global tensions, oil price fluctuations, and broader market conditions impact Chevron’s performance. Until then, patience is key as we await a clear signal.
NYSE:CVXLong
by freeguy_by_wmc
CHEVRON Ideal sell at the top of the 2-year Channel Down.Chevron (CVX) has been trading within a long-term Channel Down since the November 14 2022 High (almost 2 years). The price is currently on a 4 week rejection streak on the 1W MA50 (blue trend-line) but despite the selling pressure, it closes every 1W candle flat, refusing to decline. This is most likely the same accumulation/ pull-back phase that the previous two Bullish Legs went through upon testing the 1W MA50. They both eventually broke it and peaked at the top of the Channel Down. We expect a similar peak within the 1W MA100 (green trend-line) and the 1W MA50. Once the 1W RSI also peaks and starts reversing (red arc), we will sell and target 132.00 (just above the 1.236 Fibonacci extension). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:CVX
by TradingShot
Chevron (CVX) Stock Rallies Amid Middle East TensionsChevron (NYSE: NYSE:CVX ), along with other energy giants like ExxonMobil and ConocoPhillips, has been making significant gains as oil prices surge due to heightened tensions in the Middle East. The geopolitical instability, particularly Iran’s missile strike on Israel, has raised concerns over potential disruptions in global oil supplies, driving up crude prices and, consequently, energy stocks. Overview Brent crude, the global oil benchmark, rose 2.8%, reaching $75.59 per barrel, while U.S. West Texas Intermediate (WTI) futures surged nearly 3%, pushing prices close to $72 per barrel. This sharp increase in oil prices reflects market fears of supply constraints as the conflict in the Middle East escalates. Given Iran’s role as a major oil producer, accounting for about 5% of the world’s total output, any prolonged conflict could have significant ramifications for the global energy market. Investors have responded to these concerns by flocking to energy stocks, with Chevron’s stock gaining 1.6% in premarket trading. Chevron’s rise is also supported by its recent $53 billion acquisition of Hess (HES), which positions the company for long-term growth in the energy sector. The acquisition further strengthens Chevron’s portfolio by expanding its presence in key oil-producing regions, such as the prolific Guyana oil fields, adding to its already robust operations. Despite the surge in oil prices, Chevron (NYSE: NYSE:CVX ) is also benefitting from strong market fundamentals. The company’s strong year-to-date performance is reflected in its 20% gain, showcasing investor confidence in the long-term viability of energy stocks amid ongoing geopolitical challenges. Analysts have pointed to Chevron’s disciplined capital spending, robust cash flow, and strategic acquisitions as factors bolstering its resilience during volatile market conditions. Technical Analysis From a technical perspective, Chevron’s stock is showing positive momentum. As of Wednesday, NYSE:CVX is up 0.71%, with shares trading above the 50-day moving average, signaling strength in the current uptrend. The stock’s relative strength index (RSI) currently sits at 62.21, approaching the overbought region, indicating strong buying pressure. Investors should closely monitor the RSI, as a move above 70 could signal overbought conditions, possibly leading to a short-term correction. Chevron (NYSE: NYSE:CVX ) has been trading in line with the broader energy sector, benefiting from rising oil prices. The stock is following a bullish pattern, breaking above key resistance levels and trading near recent highs. The 50-day moving average (MA) provides critical support, indicating that Chevron's bullish momentum is likely to persist unless a significant downside event occurs. Investors looking to capitalize on the stock’s strong uptrend should keep an eye on Chevron’s RSI and other momentum indicators, as the current trajectory suggests continued strength in the energy sector. Geopolitical Uncertainty Driving Oil Prices The ongoing conflict in the Middle East, especially Iran's involvement, has introduced heightened volatility to the energy market. The potential for broader conflict in the region raises the risk of supply disruptions, further fueling upward pressure on oil prices. UBS Global Wealth Management’s CIO Mark Haefele noted that positions in oil could act as a portfolio hedge against a worsening crisis in the Middle East, making energy stocks like Chevron an attractive option for risk-averse investors. Moreover, while the firm’s base case is not for an all-out war, the potential for sustained tensions could continue to impact oil prices, benefitting energy stocks. Investors should also consider the broader market implications, including the potential for higher inflation driven by rising energy costs. Conclusion While Chevron’s stock may experience fluctuations in the near term, the overall outlook for the energy sector remains strong, supported by both technical and fundamental factors. As global energy markets brace for further volatility, Chevron is well-positioned to navigate the challenges ahead and deliver long-term value to its shareholders.
NYSE:CVXLong
by DEXWireNews
Comprehensive Analysis of Chevron (CVX) - 16/09/2024Chevron (CVX) is an established energy company listed in the S&P 500 index. Technical Analysis: I use moving averages as zones rather than lines. On the weekly chart, I applied the 200 EMA and 200 SMA, shading the area between them in orange to create a moving average zone. Currently, prices are finding support in this zone on the weekly chart. Additionally, the $140 level acts as a demand zone and creates confluence. On the daily chart, the ATR-based Keltner Channels are touching the lower band, indicating that downside volatility has reached its natural limits. There is also a bullish order block present. On the 4-hour chart, I use the Inverse Fisher RSI. It filters out noise and provides fewer false signals compared to the standard RSI. On the 1-hour chart, there is a noticeable decline in volume. Remember, without volume, it is difficult to break through support or resistance levels. From a technical standpoint, different timeframes are giving BUY signals. Fundamental Analysis: The company has a price-to-earnings ratio of 13.81, which is considered normal for the sector. In the last quarter, Chevron reported total revenue of $49.66 billion and a net profit of $4.43 billion, resulting in a 9% profit margin, which meets my no-loss rule. Chevron has strong return on equity, and growth continues. Its current ratio is 1.16, meaning its short-term assets exceed its liabilities, indicating financial stability. The price-to-book ratio is 1.60, which is excellent for a company of this size. Chevron's total assets stand at $260 billion, while total liabilities are around $100 billion, meaning the company's debt-to-assets ratio is 38.51%, which is highly acceptable. The company’s annual dividend yield is 4.55%, providing a potential bonus for long-term investors. With CVX trading near its 52-week low and showing positive signals, it could be a good choice for portfolio managers.
NYSE:CVXLong
by Trader-Berke
Chevron (CVX): Approaching a Critical Support ZoneIt's been a while since we last analyzed CVX, but we’re now approaching a very important area on the chart. You might wonder why we’re focusing on the weekly chart instead of the daily. The reason is simple: sometimes you need to zoom out to get a clearer perspective, and in this case, the weekly chart holds far more significance than the daily. There’s no point in searching for entries on the daily when the more crucial entry level on the weekly is just below. We’re looking to find support at the HVN POC (High Volume Node Point of Control) at $117, which would also serve as a retest after the last breakout in 2022. We’re still determining the best way to place a limit order at this level, but for now, we’re waiting on the sidelines with alerts set and a light game plan ready.
NYSE:CVXLong
by freeguy_by_wmc
US Energy ETF(IYE)The price has approached a point to close the gap and is likely to hit the resistance level at $50.30, potentially moving sideways until the November US General Election. My position is that if Trump wins, we could see significant growth in Energy stocks and ETFs, potentially breaking the $50.30 resistance. My advice is to start investing in IYE today, compounding $500 a month for the next 10 years or so. You will likely not regret it. This analysis goes the same to “FENY” Good Luck and Happy Investing
AMEX:IYELong
by AMianz
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought the dip on CVX: nor sold the double top: Now analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week, I would consider purchasing the 165usd strike price Puts with an expiration date of 2024-9-20, for a premium of approximately $9.20. If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
NYSE:CVXShort
by TopgOptions
Chevron Launches $500 Mln Investment Fund in Low Carbon TechChevron ( NYSE:CVX ), a prominent player in the energy sector, is embarking on a transformative journey with the launch of its $500 million Future Energy Fund III. This strategic move by the company's venture capital arm reflects a broader industry trend as oil majors pivot towards sustainable, low-carbon technologies in response to mounting pressure to address climate change. A Green Investment Vision: With the unveiling of the Future Energy Fund III, Chevron Technology Ventures ( NYSE:CVX ) is signaling a firm commitment to investing in renewable energy technologies. The fund's focus on innovations in industrial decarbonization, emerging mobility, energy decentralization, and the circular carbon economy underscores Chevron's ambition to drive positive environmental impact while embracing opportunities in the rapidly evolving energy landscape. Diversifying Business Horizons: As traditional oil and gas companies face increasing scrutiny over their carbon footprint, diversification has emerged as a strategic imperative. Chevron's move to allocate substantial capital towards low-carbon initiatives aligns with its broader goal of transitioning towards a more sustainable and resilient business model. By investing in novel low carbon fuels, advanced materials, and carbon transformation technologies, Chevron is positioning itself at the forefront of the energy transition. Building on Past Success: Chevron Technology Ventures' ( NYSE:CVX ) track record in fostering innovation is exemplified by its previous Future Energy Funds, launched in 2018 and 2021. With a total commitment of $400 million and investments in over 30 companies, these initiatives have laid the groundwork for future growth and expansion. The launch of Future Energy Fund III represents a natural progression in Chevron's ongoing efforts to drive positive change and create value in a rapidly evolving energy landscape. Industry-wide Transformation: Chevron's bold investment in low carbon technologies mirrors a broader shift within the energy sector. As the world's largest oil and gas companies set ambitious targets to reduce greenhouse gas emissions, initiatives like the Future Energy Fund III serve as catalysts for innovation and progress. By embracing sustainability and leveraging technological advancements, Chevron is not only future-proofing its business but also contributing to global efforts to combat climate change. Conclusion: Chevron's $500 million commitment to the Future Energy Fund III marks a significant milestone in the company's journey towards a more sustainable future. By investing in cutting-edge technologies and embracing the transition to a low carbon economy, Chevron is not only redefining its own business but also setting a precedent for the broader energy industry. As the world grapples with the urgent challenges of climate change, initiatives like the Future Energy Fund III underscore the critical role that innovation and investment play in shaping a more sustainable tomorrow.
NYSE:CVXLong
by DEXWireNews
Chevron (CVX): Elliot Wave Analysis and Future OutlookChevron (CVX): NYSE:CVX Examining Chevron's charts, starting with the weekly chart, we believe the first cycle concluded at the level of $120 in July 2014. That's quite some time ago. Since then, we've also developed Wave II at $51.60, coinciding with the COVID-19 low, marking the end of Wave II. From there, we've constructed the initial impulse waves upwards: Waves 1, 2, and 3. In our view, Wave 4 has not yet concluded, and there are reasons to believe this count cannot be adjusted otherwise. It's possible to count it differently, but we don't find it logically compelling. Looking post-COVID-19 low from $51.60, we've observed Waves 1 and 2, followed by a five-wave structure leading to Wave 3. What's interesting here is the absence of a five-wave impulse upwards, indicating Wave 4 is not yet complete. We also don't believe that Wave 4 lies at the level of Wave ((a)), a possible scenario, but not one we subscribe to. Given the sharp nature of Wave 2, as opposed to a sideways movement, we anticipate Wave 4 to be more extended and prolonged in time, likely moving sideways. On a shorter time frame, since the all-time high of $189.68, we expect to see a five-wave structure moving downwards. Having completed Wave (iii), Wave (iv) should now stabilize between the 38.2% and 50% levels, potentially leading to an uptick in the coming days without significantly breaching the level of Wave (i). This would invalidate our analysis, marked in red as our invalidation line. If we exceed this, we'll need to reconsider our count. Until then, we anticipate a decline to complete Waves (v), ((c)), and 4.
NYSE:CVX
by freeguy_by_wmc
Chevron: Bottom established 🌱The Chevron stock price has established the low of the blue wave (b). Going forward, the blue wave (c) should now push the stock above the resistance at $158.99, so that the overarching wave (a) in magenta can be completed there. The next step should then see a significant sell-off. However, there is a 37% chance that the price will set a new low with the blue wave alt.(b) below the support at $147.67 (but still above the next support at $139.62).
NYSE:CVXLong
by MarketIntel
Chevron's Resilience in a Volatile Market In a year marked by turbulent oil prices and global economic challenges, Chevron (NYSE: NYSE:CVX ) showcased remarkable resilience, delivering a record windfall to its shareholders in 2023 despite a substantial dip in quarterly earnings. The second-largest U.S. oil company reported a net income of $2.3 billion, a 65% decline from the previous year, attributing the decrease to lower oil prices and several charges. However, the company's strategic moves, including an 8% increase in the quarterly dividend and robust capital expenditures, underscore Chevron's commitment to long-term growth and shareholder value. Diving into the Numbers: Chevron's (NYSE: NYSE:CVX ) fourth-quarter performance exceeded analyst estimates, with adjusted earnings per share coming in at $3.45 compared to the expected $3.21. While revenue fell short of projections at $47.18 billion, the company's ability to navigate challenging market conditions was evident. The decline in profits was partly attributed to impairment charges, with the U.S. oil and gas assets recording a loss of $1.35 billion. Excluding these charges, Chevron (NYSE: NYSE:CVX ) reported an adjusted profit that surpassed Wall Street's expectations, demonstrating the company's operational strength. Record Windfall for Shareholders: Despite the challenging economic environment, Chevron (NYSE: NYSE:CVX ) returned a staggering $23.6 billion to investors in 2023. This impressive sum was distributed through a combination of dividends, totaling $11.3 billion, and share buybacks, amounting to $14.9 billion. The decision to raise the quarterly dividend by 8%, starting in March, showcases Chevron's confidence in its financial position and long-term prospects. Shareholders reacted positively to this announcement, with the company's stock rising over 1% in early trading. Strategic Investments and Expansion: Chevron's (NYSE: NYSE:CVX ) resilience is not solely attributed to financial management but also to strategic investments and expansion initiatives. The company entered a landmark $53 billion deal to acquire Hess Corp, a move aimed at expanding its footprint in Guyana, a significant emerging crude producer. This acquisition aligns with Chevron's (NYSE: NYSE:CVX ) commitment to securing future growth opportunities amidst a dynamic energy landscape. Production Highlights and Future Outlook: Despite the challenging market conditions, Chevron (NYSE: NYSE:CVX ) achieved a record production of 3.1 million oil-equivalent barrels per day in 2023. The company experienced a remarkable 14% growth in the U.S., driven by increased capital expenditures. While international production saw a slight decline due to normal field declines, Chevron (NYSE: NYSE:CVX ) remains optimistic, projecting a 4% to 7% production increase in 2024. The company's commitment to investing in recently acquired assets and ventures like the hydrogen fuel project developer ACES Delta reflects its forward-looking approach. Conclusion: Chevron's (NYSE: NYSE:CVX ) 2023 performance paints a compelling picture of a company navigating adversity with strategic acumen. Despite lower oil prices, volatile markets, and impairment charges, Chevron delivered substantial returns to shareholders, increased its dividend, and made strategic investments for future growth. As the energy landscape continues to evolve, Chevron's resilience and forward-looking initiatives position it as a key player in shaping the future of the industry.
NYSE:CVXLong
by DEXWireNews
Energy Stocks: Macro Fib SchematicsThis idea beholds 6 of the largest Energy companies in the world. (Shell, Chevron, Exxon, BP, Duke, and OXY Petroleum.) These macro schematics have been crafted through meticulous Fibonacci techniques. I've laid every one on a 3 month timeframe starting at 1988. History buffs will understand the time reference to the rough "start" of Middle Eastern conflicts from the West and the rise of the price of "fossil fuels". I'm not begging anyone to understand this genius mastery of Fib tools. You either see it or you don't. I've linked my ENERGY COMMODITIES idea below for more analysis.
NYSE:XOM
by MichaelBsul
Is Chevron ready to fire up? Trade_SetupThe world's third largest oil and gas company by market cap.- CHEVRON is ending a year long triple three correction. The stock shows a good setup with high chances of moving from current levels of 144 towards the 170 mark(15% upside). The stock is also standing at a crucial channel support that it has respected and reacted to on two different occasions in the past. On the downside 140 is a crucial support for the stock. Note*-Chart analysis and its conclusions are based on personal opinions/observations. Kindly do your own analysis before taking any financial positions
NYSE:CVXLong
by neeraj_2_sharma
2
$CVX At Fibonacci SupportNYSE:CVX At 50% Fibonacci Support Level ### Technical Analysis Update: Chevron Corporation ( NYSE:CVX ) at Critical Fibonacci Support Level Chevron Corporation ( NYSE:CVX ), a major player in the energy sector, is currently trading at a key technical juncture, specifically at the 50% Fibonacci retracement level. This level is of particular interest to traders and investors who utilize Fibonacci retracement tools in their technical analysis. #### Understanding the 50% Fibonacci Level Fibonacci retracement levels are based on the Fibonacci sequence, a series of numbers in which each number is the sum of the two preceding ones. In technical analysis, these levels are used to identify potential reversal points in the price of an asset, based on the premise that markets often retrace a predictable portion of a move before continuing in the original direction. The 50% level, although not technically a part of the Fibonacci number sequence, is often included in Fibonacci retracement tools due to its historical significance as a key reversal area. This level represents a moderate retracement of the prior price move and is often watched as a potential area for the trend to resume. #### NYSE:CVX 's Current Position For NYSE:CVX , reaching the 50% Fibonacci support level suggests that the stock has retraced half of its previous upward move. This is a critical point for traders and investors for several reasons: 1. **Potential for Reversal**: The 50% level is closely watched as an area where the prevailing trend may resume. If NYSE:CVX finds sufficient buying interest at this level, it could indicate a reversal back to its prior uptrend. 2. **Confirmation Required**: While reaching the 50% level is noteworthy, traders typically look for additional confirmation signals before considering it a robust support level. This confirmation could come from other technical indicators, such as relative strength index (RSI), moving averages, or candlestick patterns. 3. **Risk Management**: For those considering a position in NYSE:CVX , the 50% Fibonacci level offers a clear benchmark for risk management. A sustained move below this level might negate the bullish hypothesis and prompt a reevaluation of the position. #### Market Implications The significance of NYSE:CVX trading at the 50% Fibonacci level is heightened by its impact on the broader energy sector and market sentiment. As a major component of energy indices and ETFs, Chevron’s performance can influence the broader market, especially in the context of the energy industry's dynamics. #### Conclusion Investors and traders monitoring NYSE:CVX should pay close attention to its price action around the 50% Fibonacci support level. Whether it serves as a springboard for a trend continuation or gives way under selling pressure will provide valuable insights into the stock's trajectory and, by extension, the energy sector's direction.
NYSE:CVXLong
by AlgoTradeAlert
CVX Chevron Corporation Options Ahead of EarningsIf you haven`t bought CVX here: or sold it before the previous earnings: Then analyzing the options chain and the chart patterns of CVX Chevron Corporation prior to the earnings report this week, I would consider purchasing the 157.50usd strike price Puts with an expiration date of 2023-11-17, for a premium of approximately $3.42. If these options prove to be profitable prior to the earnings release, I would sell at least half of them. Looking forward to read your opinion about it.
NYSE:CVXShort
by TopgOptions
CHEVRON: Best buy on the current market conditions.Chevron is trading inside a Channel Up pattern with the 1D technical outlook bearish (RSI = 42.924, MACD = 1.030, ADX = 27.596). This is expected since the 1D RSI entered the Buy Zone where the last two HH legs started. As seen on the chart, the price hit the bottom of the Channel Up, a standard buy entry inside such patterns. The slightest rebound will also form a 1D Golden Cross. The stock is therefore sitting on a triple buy signal, with an obvious R Zone right above it. We are targeting the R2 level (TP = 172.90). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
NYSE:CVXLong
by InvestingScope
CHEVRON 1D Golden Cross ahead. Can it finally break out?Chevron Corporation (CVX) has been trading within a long-term Triangle pattern, which has potentially funneled the price action lately to a Rectangle. The key development for the next few days is the emerging Golden Cross on the 1D time-frame, the first since October 28 2021. Technically, this has the ability to break both above the Rectangle (Resistance 1 at 173.00) as well as the Triangle (Lower Highs trend-line). The 1D RSI Higher Lows are supporting this action, so if we close a 1D candle above Resistance 1 (173.00) we will buy and target 180.00 (Lower Highs of Triangle). Then if upon a short-term pull-back the 1D MA50 holds, we will re-enter and target 188.00 (Resistance 2). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
NYSE:CVX
by TradingShot
3
CVX, Major CONTINUATION-SETUP, Sector Rally, BREAKOUT INCOMING!Hello There! Welcome to my new analysis about CVX on several timeframe perspectives. The oil market since the corona pandemic supply-shock dynamics has formed a important dynamic and had the ability to form a major rebound recovery with several new highs being formed and CVX having the ability to bounce into a new all-time-high. Now a big part of the dynamic is the consideration of if CVX has the potential to continue with this established formation and with the established trend moving on with further determinations. CVX on the local timeframe perspective is building this main wedge formation with great supports above the 140-150 area. If this wedge formation completes with the appropriate momentum breakout this will activate initial target-zones and above this considering the whole global big picture CVX is forming a much larger formation here with the broadening-wedge-formation on the global perspective being completed once the breakout of the local formation also setup. With the projection of this formation targets above 400 will be activated. In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated. VP
NYSE:CVX
by VincePrince
15