Chevron Momentum Weakening Despite Uptrend

Chevron's shares have risen to $189.23 on the NYSE, up from $186.41 at the previous close, but the underlying momentum is weakening.

The stock remains in an uptrend, trading above its 20-day and 50-day simple moving averages (SMA), which indicates a constructive medium-term structure.

However, the momentum indicators are signaling a loss of internal force, with the MACD histogram showing a negative reading and on-balance volume (OBV) declining.