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VALERO ENERGY CORP
(VLO-NYSE):
Technical Viewpoint: From a low
of $36.67 on Sep 26, 2003 prices
rallied, reaching a
high of $40.18
on Oct 7, 2003. A
decline saw prices pull back, reaching a
low of
$38.39 on Oct 28, 2003.
Another rally saw prices penetrate
resistance, closing 10/30/03
at $41.40. Technicals: MACD-Histogram (MACD-H): A Buy Alert!
was given on Oct 6, 2003 when the Histogram crossed the "0" line to the upside.
Support: Remains at $38.63. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Oct 30, 2003. A P&F upside
reversal takes place at $39.50. Summary: Technical indicators have turned bullish. BUY! VALERO ENERGY CORP
(VLO-NYSE) @ $41.50 Stop: Use a protective stop of $39.50.
VALERO ENERGY CORP is currently trading @ $41.40 plus $1.88 on Oct 30, 2003. Price Objective:
$55.00. Risk/Reward: $2.00 VS. $13.50. Today's Risk Reward Ratio: 7:1
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Three Part
Technical Chart
Daily Candle Stick Chart
Point & Figure Chart
Technical Study
View full size chart
Price Objective:
$55.00
Risk/Reward:
$2.00 VS. $13.50
Risk/Reward Ratio:
7:1
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