InTheMoney Stocks

Oil Refinery Stocks On Fire, But Sector Is Now Overbought

129 1 0
Today, the major stock indexes are coming under broad based selling pressure with most industry groups trading lower. There is one sector that is in rally mode, and that is the oil             refinery stocks. Leading oil             refinery stocks such as Phillips 66             (NYSE:PSX), Tesoro             Corporation (NYSE:TSO), Valero Energy Corporation (NYSE:VLO), and Western Refining, Inc. (NYSE:WNR) are all trading higher during the trading session.

All of these stocks have benefited from the recent decline in crude prices, however these stocks are now very overbought on a technical basis. The upside for this industry group should be limited from here. Traders and investors should now watch for a pullback or consolidation in the leading oil             refinery stocks before seeing higher prices.

Nicholas Santiago
Look at that fall... nice red bar sell off right from the level noted in the chart. Hope some of you traded that move
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out