A technical analysis of VALERO ENERGY CORP.

We've identified VALERO ENERGY CORP (NYSE:VLO) as a potential breakout candidate based on our stock screener's analysis. This breakout setup pattern suggests that after a strong uptrend, the stock is currently consolidating, potentially signaling a continuation of the trend. Keep an eye on NYSE:VLO for further developments.

In-Depth Technical Analysis of NYSE:VLO

Every day ChartMill assigns a Technical Rating to every stock. The score ranges from 0 to 10 and is determined by evaluating multiple technical indicators and properties.

We assign a technical rating of 7 out of 10 to VLO. In the last year, VLO was an average performer in the market. There are positive signs in the very recent evolution, but the medium term picture is still mixed.

• Both the short term and long term trends are positive. This is a very positive sign.
• VLO is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 74% of 215 stocks in the same industry.
• VLO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so VLO is lagging the market slightly.
• In the last month VLO has a been trading in the 133.82 - 144.20 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• When compared to the yearly performance of all other stocks, VLO outperforms 67% of them, which is more or less in line with the market.

For an up to date full technical analysis you can check the technical report of VLO

Looking at the Setup

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSE:VLO scores a 9 out of 10:

VLO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 141.89. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 136.17, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for VLO in the last couple of days, which is a good sign.

How to trade NYSE:VLO?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Disclaimer

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.