Valero Energy Rises 1.55% on Heavy Volume: Watch For Potential Pullback
Valero Energy (NYSE:VLO) traded in a range yesterday that spanned from a low of $51.27 to a high of $52.69. Yesterday, the shares gained 1.5%, which took the trading range above the 3-day high of $52.66 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Valero Energy share prices have moved between a 52-week high of $73.88 and a 52-week low of $50.03 and are now trading 5% above that low price at $52.51 per share. In the last five trading sessions, the 50-day moving average (MA) has remained constant while the 200-day MA has slid 0.3%.
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 14.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders valero energy