hdon94
Long

VLO - Possible Bullish Swing Trade

NYSE:VLO   VALERO ENERGY CORP
I will be watching VLO over the next few days and may enter a bullish swing trade if I like the setup. What I will be looking for is a bounce one more time off of the 100 SMA . For the most part, I usually only focus on pure price action when determining whether or not to enter a trade but when looking at the fundamentals for VLO combined with the recent pullback I believe VLO is also undervalued at the current price, which could be a catalyst for a move to the upside. To be clear I am not suggesting that anyone should initiate a long trade on VLO tomorrow but should keep VLO on your radar and watch for a possible bullish setup.
Comment: I have entered the bullish swing trade.
Entry = $108.70 Stop = $105.50

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