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Chevron Corp Runs Out Of Steam

|Includes:Chevron Corporation (CVX)

This morning, leading integrated energy stock Chevron Corp (NYSE:CVX) is declining lower at the start of the trading day. Most likely the weakness in Chevron Corp stock is due to early weakness in oil. Chevron Corp stock is trading lower by $1.05 to $128.40 a share. Short term day traders should now watch the $127.90 area for intra-day support. This is a level where the stock will likely be supported by the institutional money. Day traders should look for an intra-day bounce in the stock when this level is reached.

Nick Santiago

Stocks: CVX