Chevron (CVX) Shares Surge 7.74% Amid Venezuela Invasion
- Significant Stock Surge: On January 3, 2026, Chevron's shares jumped 7.74% in premarket trading to $167.94, reflecting market sensitivity to the evolving situation in Venezuela, following a prior increase of 2.29% the previous day.
- Production Cuts in Venezuela: The U.S. military action prompted Venezuela's state oil company PDVSA to request joint ventures, including Chevron's, to reduce crude output, creating uncertainty about Chevron's operations and potential future earnings in the region.
- Complex Investment Outlook: Analysts highlight that revitalizing Venezuela's oil industry could require between $65 billion and $100 billion in investments, facing significant hurdles such as political instability and necessary legal reforms, while maintaining a cautious stance on short-term oil price risks.
- Long-Term Market Potential: Despite challenges, RBC Capital analysts suggest that full sanctions relief could unlock several hundred thousand barrels per day of production over a year, indicating that Chevron's long-term investment potential in Venezuela remains viable.
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Technical Analysis for CVX
Technical Sentiment Analysis for Convex Finance (CVX) As of , Convex Finance (CVX) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for CVX stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, CVX is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Convex Finance (CVX) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.789 | 1.115 | 1.468 | 1.794 | 2.147 | 2.474 | 2.826 |
| Fibonacci | 1.115 | 1.375 | 1.535 | 1.794 | 2.054 | 2.214 | 2.474 |
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