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SmarTrend Watching for Potential Pullback in Shares of Tesoro After 3.11% Gain
Feb 14, 2012 (SmarTrend(R) News Watch via COMTEX) --
Tesoro (NYSE:TSO) traded in a range yesterday that spanned from a low of $27.32 to a high of $28.71. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $28.50 on volume of 4.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
SmarTrend recommended that subscribers consider buying shares of Tesoro on January 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $23.99. Since that recommendation, shares of Tesoro have risen 15.2%. We continue to monitor TSO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
In the past 52 weeks, shares of Tesoro have traded between a low of $17.43 and a high of $29.61 and are now at $28.50, which is 64% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.1% while the 200-day MA has remained constant.
Write to Chip Brian at cbrian@mysmartrend.com
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SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com
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