Watch for Tesoro to Potentially Pullback After Gaining 2.01% Yesterday
Tesoro (NYSE:TSO) traded in a range yesterday that spanned from a low of $81.03 to a high of $82.93. Yesterday, the shares gained 2.0%, which took the trading range above the 3-day high of $82.60 on volume of 698,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Tesoro share prices have moved between a 52-week high of $119.67 and a 52-week low of $67.80 and are now trading 21% above that low price at $82.32 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has slid 0.5%.
SmarTrend is tracking the current trend status for Tesoro and will alert subscribers who have TSO in their portfolio or watchlist when shares have changed trend direction.
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