Chevron Stock Could Soon Bounce Back

Core Viewpoint - Chevron Corp's shares are experiencing a pullback from a recent five-month peak, with the energy sector generally declining due to easing tensions in the Middle East and falling crude prices [1] Company Summary - Chevron's stock is on track for a fourth consecutive daily loss, indicating a potential trend reversal [1] - The current price is within one standard deviation of its 50-day moving average, which historically suggests bullish implications [1] - Over the past three years, similar signals have resulted in an 83% probability of the stock being higher one month later, with an average gain of 5% [1] Options Market Summary - Puts are currently outpacing calls in the options market, running at double the intraday average [1] - A potential unwinding of this pessimism in the options market could provide a boost to Chevron's stock [1] - The most popular options contracts include the June 115 put and the April 155 put expiring this week [1]