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Uptrend SupportArchive
- 5/10/2024 -
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Valero Energy (VLO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Valero Energy (VLO). During the week, the VLO gave back -0.71 points, or -0.45%, and closed at 156.13 on Friday, May 10, 2024. Weekly volume was -39% below average.
VLO is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See VLO long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 104.18 and reached 184.79 on April 5, 2024. VLO gained -80.61 points, or -77.38%, in 48 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 134.86 and resistance is at 190.83. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See VLO medium-term trend chart]
A medium-term uptrend had started on November 9, 2023 at 119.88 and reached 184.79 on April 5, 2024. VLO gained -64.91 points, or -54.15%, in 21 weeks. The price is now at the 44.15% retracement level.
 Weekly Technical Indicators: [See VLO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See VLO short-term trend chart]
A short-term downtrend had started on April 5, 2024 at 184.79 and reached 154.57 on May 1, 2024. VLO lost 30.22 points, or 16.35%, in 26 days. The price is now at the 5.16% retracement level.
Daily Technical Indicators: [See VLO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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