Thursday, 6 November 2014

Wall Street Stock Pick for the upcoming session : VALERO ENERGY CORP NEW

Wall street stock pick of the day : Valero Energy Corporation

Recommendation     :           Buy above $51.25
Target                     :          $53.50


Valero Energy Corp New is overall in consolidate trend and is sustaining at lower levels on chart. Traders can buy the stock above the level of $51.25 which is a near term resistance level for the stock, and if it manages to breach this level further bullish movement is expected in this stock to test the levels of $53.50.


Stock is in bullish trend for near term and price is sustaining below resistance trend line with good consolidation on daily intraday chart. Near term breach of resistance level of $51.25 is expected, which would trigger further bullish sentiment in the stock to test the levels of $53.50.


RSI is trading with positive bias and is sustaining above the level of 50.
In MACD, signal line is sustaining above MACD line which  is indicating bullish sentiment in the stock.