CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Chevron Corporation

Market Opportunities - 12/10/2021

12 October, 2021

The example below uses Contracts For Difference (CFDs). Calculations are only on the price of the specific instrument on the date below and calculations indicate a possible opportunity for profit or loss. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

Chevron (CVX) weekly uptrend opportunity based On 1.00 Lot Calculation:

  • Chevron Corporation provides administrative, financial, management and technology support to U.S. and foreign subsidiaries that engage in integrated petroleum operations, chemicals operations, mining operations, power generation and energy services.
  • EVENT: Chevron Corporation 3rd Quarter earnings will be released on October 29th, before the market opens. It is forecast to earn $2.11 per share up 1818.18% from the prior-year quarter and revenue over $41.3 billion in the quarter up 69.26% from the year-ago period. The company’s earnings have exceeded analysts’ estimates 4 of the last 8 quarters.
  • Worldwide energy shortages are threatening to develop into a full-blown crisis with implications that stretch from Europe to China and the U.S. oil patch. Natural-gas prices in Europe and around the world have risen amid shortages. Shortages of coal and natural gas, similar to those that have hit Europe, are partly behind shortages of electric power in China. The global mismatch of demand relative to supply is larger than the expected, with the recovery in demand turning out to be faster than anticipated. Global gas shortage and winter oil demand could firmly support revenues of the company.
  • Goldman Sachs recently raised its year-end Brent crude price forecast to $90 from $80, increasing its call on WTI to $87. JPMorgan says that rising natural gas prices could push Crude oil to $82 a barrel. Bank of America says that Crude oil could jump to around $100 a barrel due to global energy crunch.
  • STOCK PRICE ACTION: The shares are currently trading around $108. Since the beginning of the year Chevron share price increased 19%. The record high reached in 2014 is $130.55. So the current upside potential is more than 20% to reach that level. The pre-pandemic maximum level was reached on April 19, 2019 ($124.44).

Chevron Corporation, October 12, 2021
Current Price: 107.00

Chevron Corporation

Weekly

Trend direction

UP

Resistance 3

114.00

Resistance 2

113.00

Resistance 1

110.00

Support 1

104.20

Support 2

101.20

Support 3

98.30

Example of calculation base on weekly trend direction for 1.00 Lot*

Chevron Corporation

Pivot Points

Resistance 3

Resistance 2

Resistance 1

Support 1

Support 2

Support 3

Profit or loss in $

7,000

6,000

3,000

-2,800

-5,800

-8,700

Profit or loss in €**

6,052

5,187

2,594

-2,421

-5,014

-7,521

Profit or loss in £**

5,146

4,411

2,205

-2,058

-4,264

-6,396

Profit or loss in C$**

8,734

7,486

3,743

-3,494

-7,237

-10,855

* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 8:00 a.m. (GMT) 12/10/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details

Share It With Your Network
CHEVRON Chart
Update Time: -
Highest
Lowest
1M 5M H D W
Prices are loading..
Ready for trading?Start Now
Close

Be aware of the holiday trading hours for:

  • Monday, 11 October 2021 for the Thanksgiving Holiday in Canada.
  • Thursday, 14 October 2021 for the Chung Yeung Day holiday in Hong Kong.
Instrument 11.10.2021 14.10.2021 15.10.2021
ALL FOREX Regular Regular Regular
Indices
Hong Kong 50 Regular Closed Regular
CAD 60 Closed Regular Regular
Equities
Canadian stock Closed Regular Regular
  • The above times may be subject to change.
  • Please note: In case of low liquidity in a specific instrument, Fortrade may widen the spreads or even close the instrument for trading. Notifications will be issued regarding any such changes to the trading schedule.
  • The dates preceding and following this holiday have the regular trading schedule.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
  • CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.