Chevron Corp.(CVX) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) Chevron Corp.(CVX) closed at 100.42, up 0.84 or 0.84 % for the day. Based on our analysis, Chevron Corp.(CVX) is in an uptrend but could lose its momentum.

The closing price of Chevron Corp.(CVX) is above its 50 day moving average of 92.73 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Chevron Corp.(CVX) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 27-May-2008, about 3 trading days ago.