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MarketScreener Homepage  >  Equities  >  Nyse  >  Chevron Corporation    CVX

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The bullish impetus is not depleted

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04/15/2013 | 03:19pm

Chevron, major American oil and gas group, could breakout the USD 121.2 resistance in the short term.

From a fundamental viewpoint, analysts polled by Thomson Reuters have regularly revised upward their earning per share estimates since September 2012. Consequently, profitability is improving, showing a relatively good financial health of the company.

Graphically, the security is up 11% since the 1st January. It seems able to continue this uptrend supported by 20 and 50-day moving averages and will soon test the USD 121.2 mid-term resistance. We anticipate a crossing of this level, given the upward orientation of the stock in the medium and long term. Above USD 121.2, a buy signal will be given and could lead prices towards new highs.

Investors could take a buy position once prices will be above the resistance confirmed on closing price. The objective will be the USD 130. A stop loss will be positioned under USD 118.

Arnaud Le Berre
© Zonebourse.com 2013
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Financials ($)
Sales 2018 177 B
EBIT 2018 21 579 M
Net income 2018 15 252 M
Debt 2018 25 378 M
Yield 2018 3,82%
P/E ratio 2018 14,94
P/E ratio 2019 12,57
EV / Sales 2018 1,42x
EV / Sales 2019 1,35x
Capitalization 225 B
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Chevron Corporation Technical Analysis Chart | MarketScreener
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Chevron Corporation Technical Analysis Chart | MarketScreener