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TMCNet:  Valero Energy (VLO) Breaks Through Resistance at $36.22

[January 16, 2013]

Valero Energy (VLO) Breaks Through Resistance at $36.22

Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Valero Energy (NYSE:VLO) have bullishly opened above the pivot of $35.62 today and have reached the first resistance level of $36.22. Should the shares continue to rise, the resistance pivots of $36.65 and $37.68 will be of interest.

Valero Energy (NYSE:VLO) has potential upside of 15.2% based on a current price of $36.03 and analysts' consensus price target of $41.50. The stock should find initial support at its 50-day moving average (MA) of $32.33 and further support at its 200-day MA of $27.93.

In the past 52 weeks, Valero Energy share prices have been bracketed by a low of $20.00 and a high of $36.11 and are now at $36.03, 80% above that low price. The 200-day and 50-day moving averages have moved 0.43% higher and 1.19% higher over the past week, respectively.

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 15.8%. 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 --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup

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