Valero Energy Corporation : Benefit from the uptrend
Entry price | Target | Stop-loss | Potential |
---|
US$67.25 |
US$0 |
US$65.7 |
-100% |
---|
Valero Energy Corporation has still an uptrend and is going toward its highest level.
The firm enjoys an excellent Surperformance rating which underlines the earnings quality, the attractive valuation and the positive EPS estimates revisions for 2015. Furthermore, the consensus remains largely buyer with an average target price displaying a +15% potential.
Graphically, the share keeps an uptrend in the long and in the medium term. Following a recent highs in the USD 70.5 area, the stock is now near the USD 66.6 support. This threshold backed by the rising 20-day moving average should initiate a technical rebound.
Consequently, it seems opportune to take a long position at the current price. The bullish trend should allow the security to reach the USD 70.5 resistance. If the stock crosses it, a new target price will be set. A stop loss will be placed at USD 65.7 to avoid a downtrend.
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