VLO dominated by bulls lifting the market higher throughout the day


Valero Energy (VLO) Technical Analysis Report for May 17, 2018 [< 1 min read]
Highlights
VLO rallies 4.1% on high volume
VLO dominated by bulls lifting the market higher throughout the day
VLO pushes through previous session high
VLO rises to highest close since Inception
TQ Sentiment
Report Sentiment: 75% Bullish
Technical Forecast:
Overview

VLO ended Thursday at 119.71 surging $4.72 (4.1%) on high volume. This is the biggest single day gain in over. Today's closing price of 119.71 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 115.26, the share confirms its breakout through the prior session's high having traded $5.78 above it intraday.

Daily chart for VLO
Volatility

Thursday's trading range was $4.71 (4.04%), that's far above last trading month's daily average range of $2.46. Weekly volatility is also higher, being above the markets average with the monthly volatility being below average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Valero Energy
Condition Forecast Direction Win Avg Worst Best Events
Low close to previous three Lows TQ Pro Members Only
Low close to previous two Lows TQ Pro Members Only
Low close to previous low TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Bearish Spinning Top TQ Pro Members Only
More market conditions identified for TQ Pro members...
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