Score 8.7 (out of 10): CHEVRON CORP sets up for +9.5% rally in 2 months

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What’s Going On Here?

Chevron to relocate head office within California, sell existing HQ.

Why Now?

CHEVRON CORP has triggered a new high volatility signal (3 month). During similar occasions, CHEVRON CORP shares had a median return of +9.5%, over the following 2 months – based on 10 historical occasions with 9 of those showing positive returns (90%). This buy signal for CHEVRON CORP received a high score of 8.7 (out of 10). This insight was generated on 2022-July-20 with last price of 146.53.

What’s This Company About?

CHEVRON CORP is in the Oil Comp-Integrated business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: CVX US.

What’s My Risk / Reward and Time Horizon?

We found 2 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 160.49 (+9.5%) has been reached. Based on CHEVRON CORP’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 139.52 (last price at 146.52), which is equivalent to a -4.8% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

8.6% (May-2022), 23% (March- 2022), 20% (April-2020), 10.5% (February-2020), 4.1% (December-2018), -4.7% (March-2018), 4.2% (January-2018), 12.9% (January-2016), 13.3% (October-2015), 5.5% (August-2015).

Historical Chart:

Summary:

NameCHEVRON CORP
ViewUp
Star (1 to 10)8.7
Target9.5%
Time2 months
Hit Rate90%

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