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Recent 52-Week High Exceeded in Shares of Valero Energy (VLO)

By James Quinn

Valero Energy (NYSE:VLO) traded today at a new 52-week high of $121.82. This new high was reached on below average trading volume as 426,000 shares traded hands, while the average 30-day volume is approximately 3.8 million shares.

Valero Energy Corporation 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, petrochemicals, lubricants, and other refined products, as well as offers diesel fuel, low-sulfur and ultra-low-sulfur diesel fuel, and oxygenates.

In the past 52 weeks, shares of Valero Energy have traded between a low of $60.69 and a high of $121.82 and are now at $121.70, which is 101% above that low price. The 200-day and 50-day moving averages have moved 1.43% higher and 2.50% higher over the past week, respectively.

Valero Energy (NYSE:VLO) is currently priced 4.7% above its average consensus analyst price target of $115.95. The stock should discover initial support at its 50-day moving average (MA) of $103.29 and subsequent support at its 200-day MA of $87.53.

SmarTrend recommended that subscribers consider buying shares of Valero Energy on March 9th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $94.63. Since that recommendation, shares of Valero Energy have risen 27.4%. We continue to monitor VLO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: 52 week high/lows valero energy

Ticker(s): VLO