Next Resistance Level for Valero Energy (VLO) is $46.17
Valero Energy (NYSE:VLO) has opened bullishly above the pivot of $44.89 today and has reached the first level of resistance at $45.54. Should the shares continue to rise, the resistance pivots of $46.17 and $47.45 will be of interest.
Over the past year, Valero Energy has traded in a range of $20.00 to $45.53 and is now at $45.18, 126% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.5% while the 200-day MA has risen 1.1%.
Valero Energy (NYSE:VLO) has potential upside of 4.2% based on a current price of $45.18 and analysts' consensus price target of $47.06. The stock should find initial support at its 50-day moving average (MA) of $35.11 and further support at its 200-day MA of $28.92.
SmarTrend recommended that subscribers consider buying shares of Valero Energy on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.91. Since that recommendation, shares of Valero Energy have risen 45.3%. We continue to monitor VLO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: pivot alerts valero energy