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Chevron (CVX) Breaks Through Resistance at $104.72
[December 05, 2012]

Chevron (CVX) Breaks Through Resistance at $104.72

Dec 05, 2012 (SmarTrend(R) News Watch via COMTEX) -- Shares of Chevron (NYSE:CVX) have bullishly opened above the pivot of $104.33 today and have reached the first resistance level of $104.72. Investors may be interested in a cross of the next upside pivot targets of $105.48 and $106.63.

There is potential upside of 20.5% for shares of Chevron based on a current price of $104.43 and an average consensus analyst price target of $125.83. The stock should run into initial resistance at its 200-day moving average (MA) of $107.74 and subsequent resistance at its 50-day MA of $114.02.

In the past 52 weeks, shares of Chevron have traded between a low of $95.73 and a high of $118.53 and are now at $104.43, which is 9% above that low price. The 200-day and 50-day moving averages have moved 0.04% higher and 0.13% lower over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Chevron on October 10th, 2012 by issuing a Downtrend alert when the shares were trading at $113.53. Since that call, shares of Chevron have fallen 8.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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