πŸ”₯ $CVX Is Coming for Its High

Trend_Radar
09-02 21:03

$Chevron(CVX)$

$Chevron(CVX) +2.38% Breakout Nears 52-Week High, Venezuela Deal Sparks Energy Rally

Latest Close Data CVX closed at $211.05 on Sep 2, 2026 (+2.38%), just 1.7% below its 52-week high of $214.71. Intraday range: $207.80–$211.08.

Core Market Drivers Bloomberg reports Chevron is near a deal to operate two oil fields in Venezuela's Orinoco Belt, while WSJ confirms a multi-billion-dollar investment plan with Halliburton. Macro tailwinds from firm crude prices are amplifying the breakout momentum.

Technical Analysis Volume: 8.56M shares (Volume Ratio 1.06), modestly above average. RSI(6) hit 80.85 β€” overbought but confirming strong momentum; RSI(12) at 72.39. MACD histogram remains negative (-0.42) but DIF (4.31) is curling toward DEA (4.52), signaling a potential bullish crossover. KDJ J-value surged to 87.84.

Key Price Levels πŸ”Ή Primary Support: $208.43 (prior resistance-turned-support) πŸ”Ή Strong Resistance: $214.71 (52-week high) πŸ”Ή Immediate Pivot: $211.08 (today's high β€” breakout trigger)

Valuation Perspective P/E TTM: 20.27 vs. historical average Forward PE of 15.57. P/S: 1.99. Dividend yield: 3.31%. Valuation is stretched but supported by energy-sector premium.

Analyst Targets 22 analysts: 6 Strong Buy, 16 Buy, 3 Hold, 1 Underperform. Average target: $216.70 (range $175–$235).

Weekly Outlook Bias: Bullish above $208. A daily close above $211.08 opens path to $214.71, then $216.70. Failure to hold $208 risks pullback to $203–$205.

⚠️ Technical analysis is probabilistic, not predictive. Overbought RSI may trigger short-term profit-taking. Not investment advice.

🎯$Chevron(CVX) Options Strategy: Bull Call Spread

  • Underlying: CVX (Chevron Corp.)

  • View: Bullish – breakout above $211.08 likely to test $214.71, then $216.70

  • Strategy Type: Debit Spread / Directional Long

  • Option Contract Portfolio:

    • Buy 1 CVX Sep 11 2026 210 Call @ $4.40 mid

    • Sell 1 CVX Sep 11 2026 215 Call @ $2.105 mid

  • Max Gain & Loss:

    • Max Gain: $2.295 per share ($229.50 per contract)

    • Max Loss: $2.295 per share ($229.50 per contract)

  • Initial Cost/Credit: Net Debit = $2.295 per share

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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