Stimulus Matters to the Stock Market and to Chevron $CVX

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Apr 20, 2021 (Stock Traders Daily via COMTEX) — Investors often shrug off the impact of stimulus, but when fabricated demand comes into the stock market everything is affected, even Chevron (NYSE: CVX) and other stocks that might not be direct beneficiaries. They say, a rising tide lifts all boats, and multiple expansion is a natural byproduct, but it works in both ways. For CVX we can see the impact demand changes have on price by looking at the trading plans and pivot points below. This changes over time, so we suggest updating the data for the most actionable results, but this static example also demonstrates how this is done. For an update, please request Unlimited Real Time Reports.

Technical Summary

Bias Neutral Neutral Neutral
P1 0 0 84.46
P2 102.40 101.48 95.11
P3 104.08 103.46 106.53
Long Term Trading Plans for CVX

April 20, 2021, 12:30 am ET

The Technical Summary and Trading Plans for CVX help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this CVX Report.

CVX – (Long) Support Plan

The technical summary data tells us to buy CVX near 95.11 with an upside target of 106.53. This data also tells us to set a stop loss @ 94.84 to protect against excessive loss in case the stock begins to move against the trade. 95.11 is the first level of support below 103.26 , and by rule, any test of support is a buy signal. In this case, support 95.11 is being tested, a buy signal would exist.

CVX – (Short) Resistance Plan

The technical summary data is suggesting a short of CVX as it gets near 106.53 with a downside target of 95.11. We should have a stop loss in place at 106.84though. 106.53 is the first level of resistance above 103.26, and by rule, any test of resistance is a short signal. In this case, if resistance 106.53 is being tested, a short signal would exist.


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The MarketWatch News Department was not involved in the creation of this content.