CVX Weekly Technical Analysis
Chevron Corporation
Integrated energy and chemical company
CVX Technical Analysis Summary
CVX has staged a significant technical breakout, clearing a massive multi-year consolidation base that capped the stock around the 170-175 level. The current price action is strongly bullish across multiple timeframes, confirmed by expanding MACD and price riding the upper Bollinger Band. While short-term overbought RSI readings suggest a minor pause or retest of the breakout zone is possible, the broader structural trend heavily favors continued upside as it tests historical highs near 190.
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CVX Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bullish
Price is demonstrating strong upward momentum, riding the upper Bollinger Band with a sharply rising 20-week SMA. MACD is positive and expanding, confirming the recent breakout. While RSI is overbought (>70), this currently reflects strong trend momentum rather than immediate reversal.
Long-term Sentiment (weeks to months): Bullish
The stock has successfully broken out of a massive multi-year consolidation base. Price is positioned well above the 50-week and 200-week SMAs, signaling a resumption of the primary long-term uptrend.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:39:10.437Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $172.50 | $170.00 - $175.00 | Strong | Previous major resistance zone of the multi-year consolidation pattern. Now expected to act as strong support upon any pullback (breakout retest). |
| $157.50 | $155.00 - $160.00 | Strong | Confluence zone of the 20-week, 50-week, and 200-week Simple Moving Averages, representing the core value area of the previous trading range. |
| $138.00 | $136.00 - $140.00 | Strong | Major structural swing lows that defined the bottom of the prolonged consolidation phase. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $187.50 | $185.00 - $190.00 | Strong | The previous all-time high resistance zone established in late 2022 and early 2023. Price is currently testing the lower bounds of this area. |
| $202.50 | $200.00 - $205.00 | Weak | Psychological round number resistance and a potential measured move target if the current breakout sustains. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Multi-year Range Breakout | Bullish | N/A | Price consolidated in a wide, choppy range roughly between 140 and 175 for over a year and a half before decisively breaking upward. |
Frequently Asked Questions about CVX
What is the current sentiment for CVX?
The short-term sentiment for CVX is currently Bullish because Price is demonstrating strong upward momentum, riding the upper Bollinger Band with a sharply rising 20-week SMA. MACD is positive and expanding, confirming the recent breakout. While RSI is overbought (>70), this currently reflects strong trend momentum rather than immediate reversal.. The long-term trend is classified as Bullish.
What are the key support levels for CVX?
StockDips.AI has identified key support levels for CVX at $172.50 and $157.50. These levels may represent potential accumulation zones where buying interest could emerge.
Is CVX in a significant dip or a Value Dip right now?
CVX has a Value Score of 52/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.