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VALERO ENERGY CORPVALERO ENERGY CORPVALERO ENERGY CORP

VALERO ENERGY CORP

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VLO trade ideas

VLO - Support Held, Looking LongValero Energy has been consolidating since early December after a pullback. The support level from a prior high established back on April 25th continued to hold as the price is just starting to break out from the level established on November 2, 2018. A purple dotted line will mark where a previous break out attempt failed so all longs will want to see the price successfully take this level out. Note the bullish divergence with the stock price & the RSI since the stock has begun its consolidation from early December. The slow stochastic is exiting an oversold condition as well. As stated above I want to see the price get higher than the dotted purple line. Assuming it does that, I have my Fibonacci extension levels noted with the dotted green lines. The dotted blue line is based on a traditional P&F chart using a 3-box reversal along with a value determined from a 20-day ATR. Earnings are on January 30th BMO, so anyone planning on holding over a month should take that into account.
NYSE:VLOLong
by Chartimistic
VLO establishing uptrend from breakout of bull flag patternVLO has broken the downtrend of the bull flag with an uptrend which held Friday (left pane). Furthermore, XLE (energy sector) is breaking out of a descending triangle on the monthly (upper right pane). Overall looking good for long positions. My stoploss is 97.27. A downtrend on the weekly has however been established, so I will be taking some profit when it approaches the downward trendline (lower right pane). Disclaimer: I currently have the following positions: VLO JAN 03 96.5 calls (main position), QQQ DEC 31 puts (hedge) and NFLX DEC 27 puts (hedge)
NYSE:VLOLong
by TradeTalksGoingWellDotEXE
Valero Pulls Back to Old Level After a Golden CrossLots of things are happening on the chart with oil refiner Valero Energy . 1) VLO had a Golden Cross pattern in late October, with its 50-day SMA rising above the 200-day SMA. 2) In recent weeks, it pulled back to find support at its old resistance zone between $92 and $94. That goes back to October 2018 and April 2019. 3) VLO has also remained near its 50-day SMA, creating a setup similar to Nike early last month. Energy stocks in general have shown positive relative strength lately as oil tries to push higher. There are a few positive forces at work: OPEC extending production cuts, calming of trade tensions between the U.S. and China, a better economic situation in Europe and low production in the U.S. Refiners have been popular trading vehicles for energy in the past. As long as VLO holds this support zone in the low-to-mid 90s, will traders get interested in it again? NYSE:NKE
NYSE:VLOLong
by TradeStation