Is VALERO ENERGY CORP Ready to Break Out of Its Range?

Our stock screener has flagged VALERO ENERGY CORP (NYSE:VLO) as a potential breakout candidate. This occurs when the stock shows signs of consolidation after a notable upward trend. While we can't predict the actual breakout, it's worth monitoring NYSE:VLO for potential movement.

In-Depth Technical Analysis of NYSE:VLO

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Taking everything into account, VLO scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, VLO has proven to be a steady performer, scoring decent points in every aspect analyzed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that VLO is one of the better performing stocks in the market, outperforming 88% of all stocks. We also observe that the gains produced by VLO over the past year are nicely spread over this period.
• VLO is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 78% of 213 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 153.38 - 168.84 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Check the latest full technical report of VLO for a complete technical analysis.

How do we evaluate the setup for NYSE:VLO?

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 8 out of 10:

VLO has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 160.11, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:VLO

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Of course, there are many ways to trade or not trade NYSE:VLO and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

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

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.