Technical Analysis
Based on technical analysis, CVX is currently showing signs of consolidation around $147-148 level. The stock has formed a support level at $144.99 (Fibonacci S1) and resistance at $159.89 (Fibonacci R1). The RSI at 72.79 indicates slightly overbought conditions, suggesting potential for a short-term pullback.
News Sentiment Analysis
Recent news shows mixed sentiment:
Price Prediction for Next Week
Based on technical indicators and news sentiment:
Target Prices:
Trading Decision: HOLD/NEUTRAL
Reasoning:
The stock is likely to trade sideways between $147-154 next week, with potential downward pressure due to overbought conditions and global demand concerns. Traders should wait for a pullback toward the $144-145 support level before considering new long positions.
The price of CVX is predicted to go up -5.08%, based on the high correlation periods with CACI. The similarity of these two price pattern on the periods is 97.72%.
CVX
CACI
Year
CVX Price Forecast($)
Potential Return(%)
2025
148.330
0.320
2026
165.000
11.600
2027
165.000
11.600
2028
180.000
21.750
2029
190.000
29.020
2030
180.000
22.230
Returns and free cash flow generation should improve, thanks to a cap on capital spending and the addition of higher-margin production volumes.
Chevron's large Permian position is mostly composed of legacy acreage, meaning the firm did not overpay to enter the play; 75% has a low royalty rate or none, giving it a cost advantage.
Citigroup
Price Target
$145 → $185
Upside
+13.8%
B of A Securities
Price Target
$168
Upside
+11.13%
Scotiabank
Price Target
$180 → $163
Upside
+8.23%