Is Valero Closing in to Resistance?

New York, December 24th ( - Shares of Valero Energy Corporation (NYSE:VLO) are trading very close to calculated resistance at $34.50. The stock ended the trading session at just $34.14, which is near levels that make it difficult to buy or start a position.

Valero Energy Corporation (NYSE:VLO) is an independent petroleum refining and marketing company that owns and operates refineries in the United States, Canada, and Aruba. The Company produces conventional gasolines, distillates, jet fuel, asphalt, and a series of petrochemicals and lubricants.

Valero's stock range is defined by its calculated support defined at $28.56 and by the resistance level at $34.50; the stock is clearly over-extended from support, making it harder for participants to establish fresh longs.

Traders don't have a clear entry point for Valero. However, as the stock pulls back towards $28.56 it will definitely provide a reference point to establish a trade. On the other hand, if the stock breaks above its resistance level at $34.50 then traders will get an opportunity to enter the stock as it moves to a higher range.

TradersHuddle Search

Stock Search:

Site Search:


Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

o Dow Jones 16,808.46 ▼234.44 (-1.38%)
o S&P 500 1,948.19 ▼24.10 (-1.22%)
o NASDAQ 4,422.96 ▼70.43 (-1.57%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:16,808.46 Trade time:2:17PM EDT Value change:▼234.44 (-1.38%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,948.19 Trade time:2:17PM EDT Value change:▼24.10 (-1.22%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,422.96 Trade time:2:17PM EDT Value change:▼70.43 (-1.57%)

In The Wires

Copyright © 2013 All Rights Reserved.