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Actionable news in CVX: CHEVRON CORPORATION,

Wait to Buy Chevron — Lower Prices Ahead


Chevron's (CVX - Get Report) powerful rally off the early October lows has reached a heavy resistance zone this week. A pullback could provide a low-risk entry opportunity for patient bulls.

Following Monday's breakout move, Chevron added another 3.35% of upside on Tuesday. The very heavy volume advance that day pushed the stock past its downward sloping 200-day moving average for the first time in over a year. Shares have continued to retreat from this week's high, and a pullback appears to be developing. For investors, this will create a low-risk buying opportunity as long as this...