Chevron Corporation (NYSE: CVX) buyers have defended the $138 support. The stock is once again proving resilience, posting more than 10% gains in just five days. That comes after ບົດລາຍງານ that OPEC+ were set for output cuts to tame falling oil prices.
Chevron, which reported $68.76 billion or £60.32 billion in revenue, has been benefiting from elevated oil prices. The revenue topped estimates of $57.69 billion or £50.6 billion. The EPS beat estimates by $0.80, underlining a solid year.
ທ່ານ ກຳ ລັງຊອກຫາຂ່າວໄວ, ຄຳ ແນະ ນຳ ທີ່ຮ້ອນແລະການວິເຄາະຕະຫລາດບໍ? ລົງທະບຽນ ສຳ ລັບຈົດ ໝາຍ ຂ່າວ Invezz, ມື້ນີ້.
If we turn to analyst expectations, the stock has a moderate buy rating. Ten analysts tracked by TipRanks have a moderate buy, while 4 assign a hold rating. Only one has a sell. The average projected price is $176.33, representing an upside of 12.36% from the current level.
However, investing in Chevron for its fundamentals alone could be far-fetched. For a stock that got buoyed by rising oil prices, a recession downturn could catch buyers by surprise. The latest decline to the $138 zone underlines price expectations around lower oil prices. Will the OPEC+ cut output on October 5?
Chevron stock price movement amid recovery from oversold $138 level
Technically, Chevron stock has been claiming lower highs, aligning with the $138 support. That has resulted in the formation of a descending trendline. Bulls must overcome the bear trendline if Chevron is to post further gains. A break above the trendline could see the stock head to $164.
Is it the right time to buy Chevron?
ບົດຄວາມນີ້ເຫັນວ່າມັນຄຸ້ມຄ່າ ການລົງທຶນ in Chevron at better valuations. Although a breakout above the descending trendline is possible, the risk-reward ratio could be unconvincing.
ຄັດລອກພໍ່ຄ້າຜູ້ຊ່ຽວຊານໄດ້ຢ່າງງ່າຍດາຍກັບ eToro. ລົງທຶນໃນຮຸ້ນເຊັ່ນ Tesla & Apple. ຊື້ຂາຍ ETFs ທັນທີເຊັ່ນ FTSE 100 & S&P 500. ລົງທະບຽນໃນນາທີ.
10/10
68% ຂອງບັນຊີ CFD ຂາຍຍ່ອຍຈະເສຍເງິນ