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Ask The Trader
Wednesday, June 06, 2001

Payin' Up At The Pump


You had picked Chevron to watch several weeks ago--what do you think of CHV as a split candidate now?

Barbee


Chevron (NYSE:CHV) has been moving higher in waves. It is up over 14% so far, but now looks as if it is ready to head lower. The stock has encountered strong resistance at $98 over the last month. CHV has tested this level three times and has subsequently retraced 50% (on average) each time after being turned back. In addition, its MACD is close to issuing a sell signal.

Even though I feel that CHV has run its course for now, it is still a good split candidate. Chevron last split its shares in June of 1994 at $90.75. As you can see, we are well within historical split range. CHV next reports earnings unofficially on 07/25/01, so we will be monitoring this event for a 2:1 split announcement, provided CHV can continue to hover around $90 until then.

Good Luck and Have a Profitable Trading Day

Craig Seidler
Assistant Editor
www.SplitTrader.com

Want a stock charted and analyzed? Send your questions to:
cseidler@sungrp.com

 


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