Chevron Corporation (NYSE:CVX) HEFFX Highlights

Chevron Corporation (NYSE:CVX) HEFFX Highlights

  • Chevron Corp. is scheduled to report second-quarter earnings before market open on Friday and investors are expecting a return to profit from last year’s loss.
  • “The focus will be on further updates on liquefied natural gas projects in Australia,” and, closer to home, any updates on the company’s plans for its fields in West Texas’ Permian Basin, said Brian Youngberg, an analyst at Edward Jones.
  • Chevron CVX, +0.70% will report amid lower crude futures prices, with U.S.-traded futures down nearly 5% in July, their fourth month of losses.

Chevron Corporation (Chevron) manages its investments in subsidiaries and affiliates, and provides administrative, financial, management and technology support to the United States and international subsidiaries that engage in integrated energy and chemicals operations. The Company operates through two business segments: Upstream and Downstream. Upstream operations consist primarily of exploring for, developing and producing crude oil and natural gas; liquefaction, transportation and regasification associated with liquefied natural gas; transporting crude oil by international oil export pipelines; processing, transporting, storage and marketing of natural gas, and a gas-to-liquids plant. Downstream operations consist primarily of refining of crude oil into petroleum products; marketing of crude oil and refined products; transporting of crude oil and refined products, and manufacturing and marketing of commodity petrochemicals.

Overall, the bias in prices is: Downwards.

Short term: Prices are stalling.

Intermediate term: Prices are ranging.

The projected upper bound is: 108.06.

The projected lower bound is: 102.11.

The projected closing price is: 105.09.

CHEVRON closed up 0.730 at 105.120. Volume was 7% above average (neutral) and Bollinger Bands were 43% narrower than normal.

Open            High           Low              Close          Volume
104.630      106.080      104.200      105.120      5,881,400

Technical Outlook
Short Term: Neutral
Intermediate Term: Bearish
Long Term: Bearish

Moving Averages: 10-period       50-period      200-period
Close:                       104.15            104.89            108.74
Volatility:                13                    18                    18
Volume:                  5,065,480      5,376,725      6,293,940

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

CHEVRON is currently 3.3% below its 200-period moving average and is in an downward trend. Volatility is relatively normal as compared to the average volatility over the last 10 periods. Our volume indicators reflect volume flowing into and out of CVX at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bearish on CVX and have had this outlook for the last 21 periods.

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 49.0074. This is not an overbought or oversold reading. The last signal was a buy 10 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 53.94. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 120 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 156.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 10 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 7 period(s) ago.

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John Heffernan

John Heffernan is an Analyst at HEFFX. John is a BSc in Economics with Honors from the University of Buckingham, and is a contributor on equities at Live Trading News.

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