Chevron Corporation (NYSE:CVX) shares are trading higher on Thursday as energy stocks grind higher in a broadly risk-on tape.At the Bernstein Strategic Decisions Conference, Chevron CEO Mike Wirth said supplying gas-fired power to data centers could emerge as a meaningful growth opportunity within the company's portfolio.He added that rebuilding damaged energy infrastructure in the Middle East could require tens of billions of dollars in repair costs.He also indicated that coal consumption is likely to remain stronger than previously expected going forward.Oil, Gas PricesDiesel's national average cost was $5.584/gallon in the U.S., the AAA data showed, with California diesel prices hitting $7.377/gallon in the state, according to the same data.Chevron Stock: Key Levels To WatchChevron is slightly outperforming its sector on the day, with Energy (XLE) up 0.17% while the S&P 500 (SPY) is up 0.53% and the Nasdaq (QQQ) is up 0.91%. Market breadth is supportive (8 sectors advancing, 3 declining; 2.7 advance/decline ratio), which typically reduces the pressure on defensive rotation and helps stabilize cyclicals like energy.From a trend perspective, Chevron's 12-month gain of 34.50% still reflects a longer-term uptrend, but the near-to-intermediate setup is in a digestion phase: the stock is trading 3.2% below its 20-day SMA and 5.1% below its 50-day SMA. It's also just 1.1% below the 100-day SMA, while remaining 7.9% above the 200-day SMA—often a "pullback within an uptrend" look if buyers defend the longer-term baseline.Momentum is leaning softer: MACD is below its signal line and the histogram is negative, which points to upside pressure cooling versus the prior upswing. In plain English, MACD compares faster and slower trend forces—when it sits below the signal line, rallies tend to need a fresh push to regain traction.