After Yesterday's Rally of 1.76% Shares Could Potentially Pullback
Valero Energy (NYSE:VLO) traded in a range yesterday that spanned from a low of $49.40 to a high of $50.90. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $50.85 on volume of 2.3 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Over the past year, Valero Energy has traded in a range of $46.88 to $73.88 and is now at $50.78, 8% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has remained constant.
SmarTrend recommended that its subscribers protect gains by selling shares of Valero Energy on April 12th, 2016 by issuing a Downtrend alert when the shares were trading at $60.72. Since that call, shares of Valero Energy have fallen 17.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders valero energy