Buy signal underway, 5th week
Chevron climbs 2.6% and closes in on a breakout in the 209 area
Our view last week
Chevron stock bounces 7.2% after last week's decline, closing in on its breakout level in the 201.6 area. The buy signal, now in its fourth week, stays lit but keeps cooling — strength drops to 59 out of 100 — and the buyers show their first signs of fatigue. Weekly technical analysis still points to a solid picture, with moving averages aligned and price firmly above the 50-week average.
This week's summary
Chevron closes the week up 2.6% and moves back toward its highs, one step from the breakout level in the 209 area. The weekly moving averages stay aligned to the upside, price holds above the 50-week average, and the energy sector is pushing in the same direction, with its sector ETF up 7.5% for the month. The buy signal, now in its fifth week, has already hit the model's first two statistical targets, and the trade is running at a 9.55% profit.
IQS Phase
70
in tension
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#62 / 167
US stocks in progress
Trade P&L %
+9.55%
from signal to date, no stop loss
Rank position
ranks 62nd among the 167 Longs already running for US stocks in our ranking, with a signal strength of 59 out of 100.
Sector context
SectorEnergy
Benchmark ETFXLE
Sector regimein strong phase
Performanceweekly +2.79% · monthly +7.50%
CVX belongs to the energy sector (reference ETF XLE). The sector is classified in strong phase according to our weekly reading.
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