HOUSTON – Energy giant Chevron Corp (CVX) demonstrated significant resilience on Monday, closing with solid gains and building positive momentum that points towards a strong start for Tuesday’s trading session.
Chevron ended the official market day at $145.91, up 0.65%. However, the closing price doesn’t tell the whole story. The stock experienced significant volatility, opening high at $147.08 before succumbing to selling pressure that drove it to a low of $144.54.
The key development for investors was the powerful rebound in the latter half of the day. Buyers stepped in decisively, pushing the stock off its lows and setting a floor of support. This buying interest didn’t stop at the closing bell; in after-hours trading, Chevron continued its climb, reaching $146.27, a further gain of 0.25%.
Analysis for Tuesday’s Open:
The afternoon recovery and the positive after-hours trading are strong bullish indicators. This pattern suggests that despite the morning sell-off, the underlying sentiment for Chevron remains positive. Investors who saw the dip as a buying opportunity were rewarded, and that confidence is likely to carry over.
With a robust dividend yield of 4.69%, Chevron remains a top pick for income-focused investors, providing a buffer against market volatility.
Outlook: The evidence strongly suggests an upward trend for Chevron at the market open on Tuesday. The sustained buying pressure after the midday low and into the post-market session indicates that momentum has firmly shifted to the bulls. Look for Chevron to potentially challenge Monday’s opening highs as it continues its upward climb.
Disclaimer: This article is based on an analysis of the provided image and is for informational purposes only. It is not financial advice. Market conditions can change rapidly, and past performance is not indicative of future results.
