Today, leading integrated energy stock Chevron Corp (NYSE:CVX) is declining lower by $1.94 to $121.12 a share. The stock has plunged since topping out on July 24, 2014 at $135.10 a share. Swing traders should now look for daily chart support around the $118.00 level. This is where the next important bounce in the stock is likely to occur. You see, this was where the stock broke out to the upside in April 2014. Often, the prior break-out levels will serve as major support when retested and that is expected to be the case this time around.
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