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Stocks V / Valero Energy Corp.

URL:  http://boards.fool.com/refiners-may-be-bottoming-26968160.aspx

Subject:  Refiners May Be Bottoming Date:  9/7/2008  10:24 AM
Author:  doubtit Number:  2987 of 3324

Valero Energy (VLO - Cramer's Take - Stockpickr) is also trading in a sideways consolidation pattern and may be in the process of building up enough steam to move higher. However, the red trend lines indicate that the stock needs to break through quite a bit of resistance before the primary trend can change from down to up.

If that does happen, investors will want to see a sharp increase in volume along with the institutional money stream at the bottom of the chart moving higher to confirm the breakout.


http://www.thestreet.com/story/10436120/2/technical-outlook-...
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