Valero Breaks Downtrend as Reopening Trade ContinuesThe reopening trade remains in full swing as buyers target cyclical companies with low valuations. Valero Energy could be a name to watch. The oil-refinery stock has a few interesting chart patterns. First is the downward-sloping trend line in place since early 2020. VLO broke it in November and has remained above it since. Meanwhile, its 50-day simple moving average (SMA) is about to rise above the 200-day SMA – a looming golden cross chart pattern. Third, the current price zone between $59 and $60 has a lot of historical importance. It was resistance in May 2014, then support in December 2016 and June 2017. The price area was relevant again in May and July of 2020. Next, MACD and the 200-day SMA are both rising. (This chart features our MA speed custom script .) Finally, VLO has squeezed into a tight price range as it fights $60. Notice how Bollinger Band Width is the narrowest since early September. Taken together, these patterns could suggest VLO has spent weeks breaking its longer-term downtrend. It’s consolidated for a month, so now could be the time for more lasting swing to the upside. TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.Longby TradeStation5
LONG VLO, Huge R:R = 8.01Amazing opportunity here, risk/reward wise. Let's see how it plays out...Longby asenskiUpdated 552
BUY to VALERO ENERGY CORP DailyHey guys, VALERO ENERGY CORP is in a configuration fake with a shadow that knows formed by sellers and a low volume of purchases made. On the TIMEFRAME M1 we can see a shadow let sellers with a high volume of purchases exchanged it goes on the top of the cosolidation zone to test it. Big possibility of breaking out the price afterwards the zone to arrive in a new zone of consolidation. And get to the next high then close a bearish breakout gap in D1 with two highs passed on TIMEFRAME H1. Not enough force to reach half of the intermediate median of ANDREWS PICHTFORK. Please LIKE & FOLLOW, thank you!Shortby stephanelibatd1
VLO LongMonthly Demand Zone Daily trendline break entry 40 stop 37 target 52 Reward:Risk =4:1 I am not a PRO trader. I need few months to practice trading strategies. If you like this idea, please use SIM/Demo account to try it, until my trading plans get high winning rate. Longby PlanTradePlanMMUpdated 443
VLO - 4H - No patternValero approaches a possible interest zone on Fib .618 with Stoch overbought. However, RSI and DMI show the expected range values confirmed by the price action of the last 60 days. I have just set up a price alert at $58 to continue with the 4H analysis.by WaineNZeddmoUpdated 0
VLO to break out, target 72.00Break out from the descending wedge looks imminent, after weeks' consolidating in a tight range. Current position: None (as already heavy in PSX) Disclaimer: These should be seen as the commentator's Notes to Self. Hopefully educational but aiming for entertaining. No legal or financial liabilities should be pursued from these materials.Longby cicizzyu1
VLO has formed a base and is ready to resume an uptrendVLO has retraced 50% from the lows while putting in a bullish engulfing pattern on the daily. Expecting an uptrend for the rest of 2020.Longby bdtkelly7290Updated 2
VLO Long positionVLO showing some bullish divergence The stock had surprising Q1 earnings Possible bounce on the triangle trendline and up Energy stock performing well under covid-19 lockdown IMPORTANT the markets are still testing un-lockdown The stock is creating a bearish triangle medium-term TP1 - 66.50 TP2 - 79.00 if breakup SL - 60.00Longby ClaudioVelezUpdated 4
Bullish on VLOA nice cup and handle formation on VLO a break above the green trend line on good volume will be a buy for a long play.Longby Walker175
VLO - Support Held, Looking LongValero Energy has been consolidating since early December after a pullback. The support level from a prior high established back on April 25th continued to hold as the price is just starting to break out from the level established on November 2, 2018. A purple dotted line will mark where a previous break out attempt failed so all longs will want to see the price successfully take this level out. Note the bullish divergence with the stock price & the RSI since the stock has begun its consolidation from early December. The slow stochastic is exiting an oversold condition as well. As stated above I want to see the price get higher than the dotted purple line. Assuming it does that, I have my Fibonacci extension levels noted with the dotted green lines. The dotted blue line is based on a traditional P&F chart using a 3-box reversal along with a value determined from a 20-day ATR. Earnings are on January 30th BMO, so anyone planning on holding over a month should take that into account.Longby Chartimistic4
VLO establishing uptrend from breakout of bull flag patternVLO has broken the downtrend of the bull flag with an uptrend which held Friday (left pane). Furthermore, XLE (energy sector) is breaking out of a descending triangle on the monthly (upper right pane). Overall looking good for long positions. My stoploss is 97.27. A downtrend on the weekly has however been established, so I will be taking some profit when it approaches the downward trendline (lower right pane). Disclaimer: I currently have the following positions: VLO JAN 03 96.5 calls (main position), QQQ DEC 31 puts (hedge) and NFLX DEC 27 puts (hedge)Longby TradeTalksGoingWellDotEXE4