NEW YORK (TheStreet) -- Major integrated oil & gas companies Chevron (CVX) - Get Report and Exxon Mobil (XOM) - Get Report set multiyear intraday lows on Monday, down 34.3% and 24.6%, respectively, from all-time intraday highs set almost exactly a year ago. 

Both energy giants, which report earnings Friday, are components of the Dow Jones Industrial Average and are among the six Dow stocks categorized as "Dogs of the Dow." Chevron declined by 10.2% in 2014 and has a dividend yield of 4.7%. Exxon Mobil declined 8.6% in 2014 and has a 3.7% dividend yield. While energy stocks were in the dog house, the Dow 30 gained 7.5%.

Analysts expect Chevron to earn $1.13 a share. The company announced a quarterly dividend of $1.07 a share, payable Sept. 10 to shareholders of record on Aug. 19. On Tuesday Chevron it would cut its workforce by 1,500 to reduce costs. This is only 2.3% of total payroll.

Analysts expect Exxon to earn $1.10 a share. The company announced a quarterly dividend of 73 cents a share, payable Sept. 10 to shareholders of record on August 13. Some say the company could miss by a couple of pennies and make additional cuts to its share buyback program.

Let's illustrate how investors can use must see daily and weekly and key trading levels to help make investment decisions for these stocks both before and after earnings are recorded.

Here's the daily chart for Chevron.


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Chevron had a close of $93.24 on Wednesday, down 16.9% year to date with the stock below its 50-day and 200-day simple moving averages of $98.21 and $106.68, respectively. Note the "death cross" that was confirmed on Oct. 22. The stock has a two-day gain of 5.1% from its July 27 low of $88.74.

Here's the weekly chart for Chevron.


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The weekly chart for Chevron is negative but oversold with the stock below its key weekly moving average of $96.15. The 200-week simple moving average of $113.33 is the upside reversion to the mean. The weekly momentum reading is projected to be 6.70 this week up from 5.96 on July 24, but both readings are well below the oversold threshold of 20.00.

Investors looking to buy Chevron should place a limit order to buy the stock if it drops to $89.44, which is a key level on technical charts until the end of this week. This level held at Monday's low and was presented on July 9.

Investors looking to reduce holdings should place a good till canceled limit to sell the stock if it rises to $109.50, which is a key level on technical charts until the end of September.

Here's the daily chart for Exxon Mobil.


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Exxon had a close of $83.15 on Wednesday, down 10.1% year to date with the stock below its 50-day and 200-day simple moving averages of $83.81 and $88.45, respectively. Note the "death cross" that was confirmed on Oct. 01. The stock has a two-day gain of 5.3% from its July 27 low of $78.97.

Here's the weekly chart for Exxon Mobil.


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The weekly chart for Exxon is negative but oversold with the stock below its key weekly moving average of $83.19. The 200-week simple moving average of $89.96 is the upside reversion to the mean. The weekly momentum reading is projected to be 15.49 this week up from 13.48 on July 24, but both readings are well below the oversold threshold of 20.00.

Exxon could be the upside leader given a weekly close above $82.19. Note that such a close would also be a weekly "key reversal". All that is needed for the key reversal would be a close on Friday above last week's high of $82.47.

Investors looking to buy Exxon should place a good till canceled limit order to buy the stock if it drops to $80.40, which is a key level on technical charts until the end of this week.

Investors looking to reduce holdings should place a good till canceled limit to sell the stock if it rises to $92.65, which is a key level on technical charts until the end of September.

Investors not familiar with technical analysis should begin with the notion that a price chart for a stock shows a road map of past price performance, which provides guidance for predicting future share price direction.

Here's how to read a daily chart. There are two moving averages to follow; the 50-day simple moving average is in blue while the 200-day simple moving average is in green.

Here's how to read a weekly chart. The red line tracks the ups and downs of the key weekly moving average. The green line is the 200-week simple moving average. The red line that oscillates along the bottom of the chart is the momentum reading on a scale of 00.00 to 100.00. A reading below 20.00 is oversold and a reading above 80.00 is overbought.

A technically positive weekly chart occurs when a stock ends a week above its key weekly moving average with the momentum reading rising above 20.00.

A technically negative weekly chart occurs when a stock ends a week below its key weekly moving average with the momentum reading declining below 80.00.

This article is commentary by an independent contributor. At the time of publication, the author held no positions in the stocks mentioned.