Valero 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...
VLO 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...
VLO has a very strong setup that has now formed. It has established a retest of the prior $92 level and remounted, making that level now support. It has also formed a rounding bottom pattern where it will look to continue its upward trend toward the 100-101 level. This will act as resistance, so 100-101 is my target. The weekly chart looks bullish to the...
Lots of things are happening on the chart with oil refiner Valero Energy.
1) VLO had a Golden Cross pattern in late October, with its 50-day SMA rising above the 200-day SMA.
2) In recent weeks, it pulled back to find support at its old resistance zone between $92 and $94. That goes back to October 2018 and April 2019.
3) VLO has also remained near its 50-day...
$VLO I noticed the trend line cross and the start of a pullback. I'm NOT taking a position here but thought I would post it for those that are interested.
VLO is showing the beginnings of a pullback back to support at the $70-71 levels. On the longer term chart there is significant support at these levels, so i'm looking to short to that level and get out, until it starts to show price action breaking below this support.
This is a potential 5-6% move with close to 2:1 risk/reward. The RSI index is close to a bearish zone
VLO retested the break-out. Discounting Cash Flow indicates VLO is a buy at $78 and worth $185. Global average to build out refining assets equates to $32,800 per refined barrel. At that level and subtracting current debt, this would indicate VLO to be worth $215. NYSE:VLO
Valero Energy (VLO) has been on a clear uptrend the last 5 years. It has made a pullback to the 200ma which seems to be a clear support. Fundamentals are looking solid and to make it even better, Valero Energy has a dividend yield of more than 4%
Oil and gas stocks are enjoying stronger price action as the commodity crude oil rises in price. VLO has a first attempt to breakout to the upside. Volume is strong and indicators are positive.
Spring and summer is when oil prices go up and who knows if we get major correction in near future. All about supply and demand. Not going to overthink this and open my wallet for this play on Monday:
Jun 21 90 calls
Valero Energy Corp. engages in the manufacture and marketing of transportation fuels and other petrochemical products. It operates through the following business segments: Refining, Ethanol, and Renewable Diesel. The Refining segment comprises of refining operations, associated marketing activities, and logistics assets that support its refining operations. The Ethanol segment includes its ethanol operations, associated marketing activities, and logistics assets that support its ethanol operations. The Renewable Diesel covers the operations of Diamond Green Diesel Holdings LLC. The company was founded on January 1, 1980 and is headquartered in San Antonio, TX.
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VLO
