Energy stocks as a sector were beaten down for several months following the initial panic of the pandemic. That made sense as air travel all but stopped, and tens of millions of people began working from home or were simply let go
Chevron: The Party Is Over
Summary
- Chevron shares have flown higher in recent months.
- But that move appears to be due to the move in crude oil, which has stalled.
- Chevron continues to cut capex and sell assets to pay its dividend, so the payout is safe.
- But the stock is fully valued at best and needs a period of digestion or a pullback.
Josh Arnold has been covering financial markets for a decade, utilizing a combination of technical and fundamental analysis to identify potential winners early on in their growth cycles. Josh's focus is mainly on growth stocks. His goal is efficient and profitable use of capital, which overly rigid buy-and-hold strategies do not allow.
Josh is the leader of the investing group Timely Trader where he focuses on limiting risk and maximizing potential reward. Features of Timely Trader include: real-time alerts, a model portfolio, technical charts, sentiment indicators, and sector analysis to find the best trading opportunities. Learn more.
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