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Valero Energy (VLO) Breaks Through Resistance at $47.45
Mar 04, 2013 (SmarTrend(R) News Watch via COMTEX) --
Shares of Valero Energy (NYSE:VLO) have bullishly opened above the pivot of $46.08 today and have reached the first resistance level of $47.45. Analysts will be watching for a cross of the next upside pivot targets of $48.28 and $50.48.
In the past 52 weeks, Valero Energy share prices have been bracketed by a low of $20.00 and a high of $47.85 and are now at $47.10, 136% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.9% while the 50-day MA has advanced 3.2%.
Valero Energy (NYSE:VLO) has potential upside of 5.2% based on a current price of $47.10 and analysts' consensus price target of $49.56. The stock should discover initial support at its 50-day moving average (MA) of $40.06 and subsequent support at its 200-day MA of $30.92.
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 50.9%. We continue to monitor VLO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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