The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 3/15/2024 -
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Valero Energy (VLO) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overbought
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtLane's Stochastic is strongly overboughtThe price is above the upper Bollinger Band
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It was a fourth consecutive positive week for the Valero Energy (VLO). During the week, the VLO gained 14.17 points, or 9.48%, and closed at 163.70 on Friday, March 15, 2024. VLO was trading at average weekly trading volume.

VLO is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See VLO long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 104.18 and reached 166.10 on March 15, 2024. VLO gained -61.92 points, or -59.44%, in 45 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 129.15 and resistance is at 205.59. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See VLO medium-term trend chart]
A medium-term uptrend had started on November 9, 2023 at 119.88 and reached 166.10 on March 15, 2024. VLO gained -46.22 points, or -38.56%, in 18 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (127.14) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See VLO weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See VLO short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 124.02 and reached 166.10 on March 15, 2024. VLO gained -42.08 points, or -33.93%, in 57 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (138.49) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See VLO daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since March 4, 2024. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.87
Williams' Percentage Range (W%R) 14.20
Overbought
Lane's Stochastic (%D-Slow) 90.87
Strong Overbought
Greed/Fear Indicator (GFI) 85.53
Overbought
Moving Average Converg./Diverg. (MACD) 3.73
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.46
Overbought
Williams' Percentage Range (W%R) 9.70
Strong Overbought
Lane's Stochastic (%D-Slow) 86.02
Overbought
Greed/Fear Indicator (GFI) 80.05
Overbought
Moving Average Converg./Diverg. (MACD) 2.77
Trading Signals
Description Value Chart
Price 163.70
Daily Stochastic Crossing 163.67
Upper Bollinger Band 162.93
Weekly Stochastic Crossing 159.92
Parabolic System 152.85
Monthly Trendline Resistance 151.79
Weekly Trendline Resistance 151.39
20 Day Moving Average 146.01
50 Day Moving Average 139.15
Weekly Trendline Support 138.49
Lower Bollinger Band 133.18
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Refining & Marketing 115
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 134.39
Low Date 02/22/2024
High 166.10
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 151.39
Support 138.49
Low 124.02
Low Date 01/18/2024
High 166.10
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 151.79
Support 127.14
Low 119.88
Low Date 11/09/2023
High 166.10
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 205.59
Support 129.15
Low 104.18
Low Date 05/04/2023
High 166.10
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.00
Low Date 03/18/2020
High 166.10
High Date 03/15/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.