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SmarTrend Watching for Potential Rebound in Shares of Valero Energy After 3.22% Loss

By James Quinn

Valero Energy (NYSE:VLO) traded in a range yesterday that spanned from a low of $76.88 to a high of $78.97. Yesterday, the shares fell 3.2%, which took the trading range below the 3-day low of $78.39 on volume of 1.4 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Valero Energy has traded in a range of $76.25 to $126.98 and is now at $79.51, 4% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 2% while the 200-day MA has slid 0.2%.

SmarTrend recommended that its subscribers protect gains by selling shares of Valero Energy on November 13th, 2018 by issuing a Downtrend alert when the shares were trading at $84.59. Since that call, shares of Valero Energy have fallen 6.0%. 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