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Berger: Chevron stock ready to bounce

Technical Analyst Serge Berger is looking at buying stocks from the integrated energy company Chevron. Oil prices have been falling since June, and Serge explains that because the stock markets are largely driven by the oil price, some companies look interesting from a dividend perspective.

Currently Chevron supports a 4% dividend yield compared to the S&P 500 which is closer to a 2% average trailing dividend. From a technical point of view, Chevron is inching closer to a psychological important USD 100 area and Serge thinks the stock is ready to bounce.

Specifically, Serge is looking to buy the stock on a daily close above USD 106 with a target at USD 112 and a Stop Loss at USD 102.

01:30 minutes
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