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SmarTrend Watching for Potential Pullback in Shares of Valero Energy After 14.66% Gain

By Amy Schwartz

Valero Energy (NYSE:VLO) traded in a range yesterday that spanned from a low of $40.14 to a high of $43.26. Yesterday, the shares gained 14.7%, which took the trading range above the 3-day high of $40.90 on volume of 4.7 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 $31.00 to $101.99 and is now at $45.78, 48% above that low. Over the past week, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 4.8%.

SmarTrend recommended that its subscribers protect gains by selling shares of Valero Energy on December 3rd, 2019 by issuing a Downtrend alert when the shares were trading at $94.33. Since that call, shares of Valero Energy have fallen 58.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders valero energy

Ticker(s): VLO