Annual Trading Forecast on Chevron (2016)

Share On Facebook
share on Linkedin

Chevron stock (NYSE:CVX) has been making commendable bullish effort since the beginning of March 2016, although the market has been quite choppy (moving sideways) for the past several months.

In the chart, the ADX period 14 is above the level 20, showing that some momentum may be rising in the market. The DM+ is also above the DM-, meaning that the bulls now have upper hands. The MACD default parameters, has both its histogram and the signal lines above the zero line. This shows a Bullish Confirmation Pattern in the chart. The price is poised to continue moving up and up this year.

Irrespective of occasional dips along the way, Chevron would break one supply level after the other, to the upside, in the year 2016.

This forecast is ended by the quote below:

“Watching Bach Yen grow and overcome her personal hardships, and realize that trading is her solution has been such a pleasure.” – Louise Bedford

What Super Traders Don’t Want You To Know: Super Traders

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20210419 12:05:58