Alphabet (GOOGL) slips after hours despite Street-beating Q2 >>> READ MORE

3 Dow Jones Icons That Will Surge on the Rebound

Despite the Trump-driven headlines, a relief rally could be in the works

      View All  

Dow Jones Stocks to Buy: Chevron (CXV)

Chevron Corporation (NYSE:CVX) shares are coiling up, inching above their 50-day and 200-day moving averages, and look ready for an upside breakout out of a long six-month downtrend.

The decline from the December high nearly reversed the post-election surge the company enjoyed, giving value hunters an attractive entry point for a possible retest of the $116 level — which would be worth a 9%-plus gain from current levels.

Chevron’s long-term prospects look great, with analysts expecting 76% growth versus a 39% contraction in its previous five years. Shares are moving as anticipation builds for an upcoming meeting of OPEC oil producers and a possible extension of last year’s supply freeze agreement.

Next Page

Article printed from InvestorPlace Media,

©2017 InvestorPlace Media, LLC