CHEVRON EARNINGS DUE ON FRIDAY-MARKET LOOKING BULLISH

Chevron corp. is expected to report its Earnings before the market open on Friday. The closing price of Chevron stock on Wednesday was $124.90 per share and it has been gaining strength since the last two trading sessions. It has gained 0.86% over the last trading session. The stock constitutes 3.33% and 0.98% of the DJIA and the S&P 500 respectively. The DJIA and the S&P 500 rose 0.68% and 0.91% yesterday respectively.

On the technical front, the RSI is currently at 53.21% and suggests that the market may head upwards. The %K has crossed the %D from below to the upside at 14.80% and suggests that market may move upwards. The MACD indicator has also generated an Initial Buying signal or reversal of trend, as the Fast line is above the slow line while both are below zero.

 

TRADE SUGGESTION- LIMIT BUY AT 124.80 TAKE PROFIT AT 126  STOP LOSS AT 124.20

 

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