Chevron Corporation (NYSE:CVX) has dropped sharply over the last week. The stock just made a new all-time highs prior, and is seeing profit taking. Chevron Corp will hit support at $122.00. This is a culmination of support trend lines
as well as the 200 daily moving average. A significant bounce should occur if this level is hit in the next week. Chevron can be taken as a swing trade.
Chief Market Strategist