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 17,838.19 ▼13.32 (-0.07%)
o S&P 500 2,092.19 ▲1.65 (0.08%)
o NASDAQ 4,905.17 ▲10.28 (0.21%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,838.19 Trade time:2:25PM EDT Value change:▼13.32 (-0.07%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,092.19 Trade time:2:25PM EDT Value change:▲1.65 (0.08%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,905.17 Trade time:2:25PM EDT Value change:▲10.28 (0.21%)

In The Wires

Copyright © 2013 All Rights Reserved.