1
CVX stock is trying to gain momentum and looking for a bounce to revisit $180.
2
Buyers have attained strength and are attempting for a breakout.
Chevron Corporation (CVX stock) price chart shows an ascending triangle pattern. The price is consolidating in a narrow range after breaking out of the upper trendline.
Moreover, CVX stock made a double bottom pattern near the strong support zone of $150 and back from there. However, the CVX share price is close to the 200-day EMA, which acts as an obstacle in raising the momentum and reflects slow and steady moves in the past sessions.
CVX stock is trading above the cluster of $150, showing a positive outlook and bullish signals on the charts. Furthermore, the stock has driven the gains above neutrality and is looking to retest the uncertain gap near $160.
However, CVX stock is trading in a narrow congestion zone, which did not give indications of any significant bounce or fall.
Despite the trendline break
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