Chevron: confirmation week, +4% and earnings today
Chevron rises 4% and confirms its buy signal right on earnings day
Chevron: confirmation week, +4% and earnings today
Our view last week
Chevron turns a corner: the sell signal that was losing steam near the Inversion Point last week has burned out, replaced by a fresh Buy signal. The stock is up 6.2% on the week, breaking above its 7-day high near 188 with a strong bounce off its 20-day average. It ranks 8th among the 20 fresh US Longs, signal strength 54 out of 100: a solid picture, not a hot one. Earnings land this very week, adding weight to the opening.
This week's summary
Chevron closes the week up 4% and breaks above its 7-day high, in the 198 area, on the back of four straight rising daily lows, running from the 165 area to the 179 area. This is the confirmation week for the new buy signal, and earnings land today too — an event that adds weight just as price presses against the highs. Chevron stays in our weekly technical analysis among 124 open buys on US stocks, with a Signal Strength of 59 out of 100.
IQS Phase
52
ordinary
Signal Strength
59
medium
Sizing
STANDARD
Ranking
#42 / 124
US stocks in progress
Trade P&L %
+3.95%
from signal to today
Rank position
ranks 42nd among the 124 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 positive regime
Performanceweekly +3.36% · monthly +11.29%
CVX belongs to the energy sector (reference ETF XLE). The sector is classified in positive regime according to our weekly reading.
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