Breakout confirmed: buyers hit 99%
Valero Energy surges 10.3%, breaking through the resistance flagged last week
Breakout confirmed: buyers hit 99%
Our view last week
Valero Energy closes the week up 4.8%, confirming the technical strengthening already flagged last week: the weekly MACD has crossed bullish and buyers dominated 75% of the volume, versus 54% seven days ago. Price is now pressing against resistance at the daily pivot point, in the 281 area. The trade is in its 26th week of management, with residual capital now running at +51.5% since entry.
This week's summary
Valero Energy confirms with strength the breakout flagged a week ago: after pressing against resistance at the daily pivot point, in the 281 area, the stock surges 10.3% and touches new highs, with buyers dominating 99% of the volume versus 75% seven days earlier. The weekly RSI climbs to 74.7 and momentum hits its highest reading in four weeks. The buy signal, now in its 27th week of management, is nearing 67% profit since entry.
IQS Phase
72
in tension
Signal Strength
55
medium
Sizing
STANDARD
Ranking
#56 / 112
US stocks in progress
Trade P&L %
+67.13%
from signal to today
restricted Platinum content