Chevron Corporation (NYSE: CVX), one of the world's leading energy companies, will hold a quarterly revenue conference on Friday, May 1, 2020. Chevron Corporation is one of the world's leading integrated energy companies. The company explores, extracts and transports crude oil and natural gas; purifies, sells and distributes transportation fuels and lubricants; produces and sells petroleum products and additives; generates energy; and develops and implements technologies that add value to all aspects of the company's business.
Chevron, H4
Pivot: 75.00
Analysis:
Provided that the asset is traded above 66.50, follow the recommendations below:
The timeframe: H4
Recommendation: long position
Entry point: 75.00
Take Profit 1: 81.50
Take Profit 2: 90.00
Alternative scenario:
In case of breakdown of the level 66.50, follow the recommendations below:
The timeframe: H4
Recommendation: short position
Entry point: 66.50
Take Profit 1: 60.00
Take Profit 2: 52.50
Comment:
The shares of Chevron came out of the medium-term downward channel, are likely to form a new uptrend channel with a short consolidation.
Key levels:
Resistance
Support
99.00
66.50
90.00
60.00
81.50
52.50
Chevron, D1
Pivot: 76.12
Analysis:
While the asset is traded above 56.60, follow the recommendations below:
Time frame: D1
Recommendation: long position
Entry point: 76.12
Take Profit 1: 100.90
Take Profit 2: 112.00
Alternative scenario:
If the level 56.60 is broken-down, follow the recommendations below.
Time frame: D1
Recommendation: short position
Entry point: 56.60
Take Profit 1: 40.10
Take Profit 2: 30.00
Comment:
RSI is below 50. MACD is above the signal line and negative. The configuration is mixed. In addition, the stock is traded above the 20-day moving average (72.01), but below the 50-day moving average (92.59).
Key levels:
Resistance
Support
134.2
56.6
123.1
40.1
112.0
30.3
We also advise you to pay attention to Apple for intra-day trading:
Pivot: 241.38
Analysis:
While the asset is traded above 235.20, follow the recommendations below:
Time frame: H4
Recommendation: long position
Entry point: 241.38
Take Profit 1: 251.60
Take Profit 2: 256.20
Alternative scenario:
If the level 235.20 is broken-down, follow the recommendations below.
Time frame: H4
Recommendation: short position
Entry point: 235.20
Take Profit 1: 227.60
Take Profit 2: 223.00
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