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Valero Energy (VLO) Breaks Through Resistance at $36.22
[January 16, 2013]

Valero Energy (VLO) Breaks Through Resistance at $36.22

Jan 16, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Valero Energy (NYSE:VLO) have bullishly opened above the pivot of $35.62 today and have reached the first resistance level of $36.22. Should the shares continue to rise, the resistance pivots of $36.65 and $37.68 will be of interest.

Valero Energy (NYSE:VLO) has potential upside of 15.2% based on a current price of $36.03 and analysts' consensus price target of $41.50. The stock should find initial support at its 50-day moving average (MA) of $32.33 and further support at its 200-day MA of $27.93.

In the past 52 weeks, Valero Energy share prices have been bracketed by a low of $20.00 and a high of $36.11 and are now at $36.03, 80% above that low price. The 200-day and 50-day moving averages have moved 0.43% higher and 1.19% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Valero Energy on November 21st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.91. Since that recommendation, shares of Valero Energy have risen 15.8%. We continue to monitor VLO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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