CVX Nears Breakout as Energy Momentum Holds
$Chevron(CVX)$
Chevron Corp.(CVX) Surges +3.34%: Energy Giant Tests 52-Week High, Momentum Intact
Latest Close Data
Closed at $176.90 on 2026-02-01, up +3.34% (+$5.71). The price is just $0.40 below its 52-week high of $177.30.
Core Market Drivers
Strong momentum is driven by robust energy demand and stable oil prices. The stock's high dividend yield of 3.82% continues to attract income-focused investors. Recent capital flow data shows significant net inflow, indicating institutional buying interest.
Technical Analysis
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Volume surged to 22.95M shares (Volume Ratio: 2.16), confirming the bullish breakout.
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The MACD (DIF: 4.78, DEA: 4.05, MACD: 1.46) shows a strong bullish expansion.
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The 6-day RSI at 92.52 is deeply in overbought territory, signaling a high risk of a short-term pullback or consolidation.
Key Price Levels
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Primary Support: $171.27 (Today's low)
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Strong Resistance: $177.30 (52-Week High)
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Immediate Pivot: $176.90 (Today's close, a key level for continuation)
Valuation Perspective
The TTM P/E of 24.94 is elevated compared to the historical forward P/E average of 14.54, suggesting the stock is pricing in significant future growth. The P/S ratio of 0.48 remains attractive within the energy sector.
Analyst Targets
23 analysts have an average price target of $178.36 (Upside: ~0.8%). The consensus is bullish, with 6 Strong Buy, 12 Buy, 9 Hold, and only 1 Underperform ratings.
Weekly Outlook
Expect consolidation near the all-time high ($177.30) in the coming week due to overbought RSI. A successful breakout above $177.30 could target the $180-$185 zone. Failure to hold above $171 may lead to a retest of the $165 support level.
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