Shares of Chevron Corporation (NYSE:CVX) gained 0.23% to settle at $104.13 during its last trading session on Thursday. 4.43 million shares of the company were exchanged. Chevron has a 12-month low of $97.53 and a 12-month high of $119.00. The firm’s market capitalization is $198.75 billion.
The Simple Moving Average is arguably the most popular technical analysis tool used by traders. The Simple Moving Average (SMA) is often used to identify trend direction, but can be used to generate potential buy and sell signals.
The 200-day simple moving average (SMA) is considered a key indicator by traders and market analysts for determining the overall long-term trend. The price level in a market that agrees with the 200 SMA is recognized as a major support when price is above the 200 SMA or resistance when price is below the 200 SMA levels.
The 200-day SMA, which covers the previous 40 weeks of trading, is commonly used in stock trading to determine the general market trend. As long as a stock’s price remains above the 200 SMA on the daily time frame, the stock is generally considered to be in an overall uptrend.
After a recent check, Chevron Corporation (NYSE:CVX) shares price moved down from its 50 days moving average with -1.07% and remote negatively from 200 days moving average with -4.12%. We have taken into consideration the 50-day and the 200-day Simple Moving Average, as this pair of SMA is often looked at by big financial institutions as a long range indicator of market direction.
Chevron Corporation (NYSE:CVX) stock price level can be currently recognized as a major resistance and therefore the stock is an overall downtrend, as a stock’s price remains below the 200 SMA on the daily time frame. This stock is presently giving a bearish signal to traders. Analyst mean recommendation for this stock is 2.20.
On other hand, Annaly Capital Management, Inc. (NYSE:NLY) plunged -1.22% with the closing price of $12.18. The company saw 5.34 million shares trade hands over the course of the day. The intraday high for the company’ stock is recorded at $12.36. The market capitalization for the company is reported at $12.48 billion, while the P/E ratio yielded by the company was 4.72.
The net profit margin for the company is reported at 73.00% while the weekly performance for the same has been recorded at -0.25%. The share price has moved forward from its 200 days moving average, trading at a distance of 11.62% and stays 1.99% away from its 50 days moving average.
Annaly Capital Management, Inc. (NYSE:NLY) stock price level can be currently recognized as a major support and therefore the stock is an overall uptrend, as a stock’s price remains above the 200 SMA on the daily time frame. This stock is presently giving a bullish signal to traders. Analyst mean recommendation for this stock is 3.40.