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Warren Buffett's Oil Pick Just Made A Death Cross: Should Chevron Investors Be Concerned?

Benzinga ·  Aug 26 23:18

Legendary investorWarren Buffett's oil pick –Chevron Corp(NYSE:CVX) – is currently navigating choppy waters. Chevron, a titan in the global energy sector, is the fifth-largest holding of the "Oracle of Omaha's"Berkshire Hathaway Inc(NYSE:BRK) (NYSE:BRK) portfolio.

The oil and gas giant, originally known as Standard Oil Company of California, operates in over 180 countries and has a storied history. However, recent technical signals suggest rough times ahead for Chevron stock.

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Chart created using Benzinga Pro

The recent formation of aDeath Cross raises concerns for investors. With the stock down 1.24% year-to-date, 7.86% over...

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