CHEVRONTEXACO CORP
(CVX-NYSE):
Technical Viewpoint: From a low
of $92.96 on Jul 8, 2004 prices
rallied, reaching a
high of $96.16
on Jul 16, 2004. A
decline saw prices pull back, reaching a
low of
$92.98 on Jul 27, 2004.
Another rally saw prices penetrate
resistance, closing 8/3/04
at $98.49. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Jun 17, 2004 when the Histogram crossed the "0" line to the upside.
Support: Remains at $93.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Aug 3, 2004. A P&F upside
reversal takes place at $96.00. Summary: Technical indicators have turned bullish. BUY! CHEVRONTEXACO CORP
(CVX-NYSE) @ $98.88 Stop: Use a protective stop of $96.13.
CHEVRONTEXACO CORP is currently trading @ $98.49 plus $2.01 on Aug 3, 2004. Price Objective:
$110.00. Risk/Reward: $2.75 VS. $11.12. Today's Risk Reward Ratio: 4:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$110.00
Risk/Reward:
$2.75 VS. $11.12
Risk/Reward Ratio:
4:1
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