How the price action of Chevron (CVX) is used to our Advantage

January 21, 2022, 13:45 pm ET, BY Quentin W.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Chevron (NYSE: CVX) data table below can help you with price action, and we have more details too. Trading plans for CVX are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for CVX

• Buy CVX slightly over 120.12 target n/a stop loss @ 119.77. Details

The technical summary data tells us to buy CVX near 120.12, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 119.77 to protect against excessive loss in case the stock begins to move against the trade. 120.12 is the first level of support below 128.02, and by rule, any test of support is a buy signal. In this case, if support 120.12 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for CVX

• Buy CVX slightly over 129.85, target 132.13, Stop Loss @ 129.47 Details

If 129.85 begins to break higher, the technical summary data tells us to buy CVX just slightly over 129.85, with an upside target of 132.13. The data also tells us to set a stop loss @ 129.47 in case the stock turns against the trade. 129.85 is the first level of resistance above 128.02, and by rule, any break above resistance is a buy signal. In this case, 129.85, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CVX near 129.85, target 120.12, Stop Loss @ 130.23. Details

The technical summary data is suggesting a short of CVX if it tests 129.85 with a downside target of 120.12. We should have a stop loss in place at 130.23 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 129.85, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CVX

• Buy CVX slightly over 129.85, target 130.93, Stop Loss @ 129.55 Details

If 129.85 begins to break higher, the technical summary data tells us to buy CVX just slightly over 129.85, with an upside target of 130.93. The data also tells us to set a stop loss @ 129.55 in case the stock turns against the trade. 129.85 is the first level of resistance above 128.02, and by rule, any break above resistance is a buy signal. In this case, 129.85, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CVX near 129.85, target 120.12, Stop Loss @ 130.15. Details

The technical summary data is suggesting a short of CVX if it tests 129.85 with a downside target of 120.12. We should have a stop loss in place at 130.15 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 129.85, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

CVX Ratings for January 21:

Term →	Near	Mid	Long
Rating	Strong	Neutral	Strong
P1	0	0	104.46
P2	129.78	129.85	112.14
P3	130.93	132.13	120.12

Support and Resistance Plot Chart for CVX

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.