Chevron Corporation (CVX) stock jumped higher in its latest intraday trading, under the influence of a short-term corrective uptrend and movement along an ascending trendline. The stock remains supported by ongoing positive pressure from trading above its 50-day SMA. This recent rise came after the stock successfully absorbed previous overbought RSI levels, giving it more room to achieve further gains.

Therefore we expect the stock to rise in upcoming trading sessions, as long as support at $148.60 holds, targeting the key resistance level of $155.90 in preparation to challenge it.

Todays price forecast: Bullish.