Trading Idea: - Is Valero close to Resistance?

New York, January 8th ( - Shares of Valero Energy Corporation (NYSE:VLO) are trading very close to calculated resistance at $35.66. The stock ended the trading session at just $34.35, 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 $35.66; 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 $35.66 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 17,068.04 ▲93.73 (0.55%)
o S&P 500 1,981.14 ▼1.16 (-0.06%)
o NASDAQ 4,534.52 ▼14.71 (-0.32%)

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,068.04 Trade time:10:28AM EDT Value change:▲93.73 (0.55%)

S&P 500

Company ID [INDEXSP:.INX] Last trade:1,981.14 Trade time:10:28AM EDT Value change:▼1.16 (-0.06%)


Company ID [INDEXNASDAQ:.IXIC] Last trade:4,534.52 Trade time:10:27AM EDT Value change:▼14.71 (-0.32%)

In The Wires

Copyright © 2013 All Rights Reserved.