Sell in management: buyers pressing on Chevron
Chevron rebounds 4.3% as buyers retake control and the downtrend loses steam
Sell in management: buyers pressing on Chevron
Our view last week
Chevron is in week 13 of a sell signal, and the week gave up 1.1% while the daily chart carves out a double bottom in the 168 area with an intermediate 3% rebound. The picture stays in distribution, but with sellers less dominant than in the prior weeks.
This week's summary
Chevron stock is riding a 4.3% rebound that pushes its sell signal, now in its 14th week, back into the 178-180 area - where the 7-day high and the Inversion Point both sit. Buyers now control 81% of the trade, money flow has improved for a second straight week, and the ADX has been sliding for a month: the trend is losing conviction. The short remains up 6.44%, with earnings due in two weeks adding weight to the near-term picture.
IQS Phase
69
in tension
Signal Strength
2
decline fading out
Sizing
MINIMUM
Ranking
#106 / 137
US stocks
Trade P&L %
+6.44%
from signal to today
restricted Platinum content