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Chevron (CVX) Crosses Pivot Point Support at $115.97
[January 31, 2013]

Chevron (CVX) Crosses Pivot Point Support at $115.97

Jan 31, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Chevron (NYSE:CVX) opened today below their pivot of $116.74 and have already reached the first level of support at $115.97. Analysts will be watching for a cross of the next downside pivot targets of $115.50 and $114.26.

Chevron (NYSE:CVX) has potential upside of 6.6% based on a current price of $116.55 and analysts' consensus price target of $124.28. The stock should discover initial support at its 50-day moving average (MA) of $109.28 and subsequent support at its 200-day MA of $108.23.

Over the past year, Chevron has traded in a range of $95.73 to $118.53 and is now at $116.55, 22% above that low. The 200-day and 50-day moving averages have moved 0.21% higher and 0.74% higher over the past week, respectively.


SmarTrend recommended that subscribers consider buying shares of Chevron on December 11th, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $107.69. Since that recommendation, shares of Chevron have risen 8.1%. We continue to monitor CVX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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