VLO is approaching our first support at 70.05 (horizontal pullback support, 100% fibonacci extension, 50% fibonacci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 82.84 (horizontal pullback resistance, 61.8% fibonacci extension, 23.6% fibonacci retracement). Stochastic (89,5,3) is also approaching...
With the market and oil being sold so heavily, VLO has been crushed and its into support here. It could head a bit lower if oil continues to fall, however, oil is into good support as well. Risk to reward is high here stop will be $78.04. If it pays me well today I may look to exit early. Cant be too greedy in this market.
PR Strong Buy $15 NR Junk $125 PSR: 15.4 M
Will this descending triangle break bearish? Like the idea if you agree. Follow me for more tips like this.
I will be watching VLO over the next few days and may enter a bullish swing trade if I like the setup. What I will be looking for is a bounce one more time off of the 100 SMA. For the most part, I usually only focus on pure price action when determining whether or not to enter a trade but when looking at the fundamentals for VLO combined with the recent pullback I...
Looking at the chart for GUSH. I am looking for a break above the last high (green dotted line). A move higher should signal a continuation of higher highs and higher lows (red lines). I'll buy with a break above. OIL is looking good and other stocks like RIG and VLO seem to be trending higher. Wait for the break of the green line to confirm, and then set your...
Abraksas Pete, AXAS is set to run again. With the weekly chart breaking above the 34sma returns look promising. This stock could run up to the $3 range yielding a nice return. The daily chart and hourly charts also look good. As long as the OIL services sector continues higher AXAS should move higher as well. Others to looks at are GUSH, RIG, DO, VLO. Stay in this...
Waiting for a move below 64.40 to get properly beared up. Fighting against over a 4% div... not my favorite short idea.
Signals: 1-Double bottom 2-Triangle with oncoming breakout 3-Oncoming breakout of inclines resistance Buy 54.90-55.30 Stop-loss 53.76 Target 60.00
If oil takes a significant dip overnight, I will be short MPC. I don't think there is any fundamental to support this stock to the upside anyways, so I am shorting calls. Plus I am not much of an options buyer unless to trying to hit a home run. The blue line represents options expiration day. These are 4h bars. Important to note that NOT all refiners are...
Look guys, this is the same Fib retracement that has HELD since the Jan-Feb selloff. Do not take my word for it. Look at my previous predictions, load the new data, and see how much money was made. MPC has had a history of bucking the market. When SPX was down 2%, this was down 7%. When SPX was up 3%, this was up over 8.5%. This is a lower liquidity, higher...
No reason to hold anything over the weekend unless you have to. Something smelly about the markets. I can feel the SPY wanting to sell. MPC rallied up testing 37.00 fib level. It tested that level and it did not breach. The chart indicates overall bullish. It has/is building a nice $35 floor for itself. THE MODEL HAS NOT BEEN RE-DRAWN AND MPC IS TRADING PER THOSE...
I'll let the chart speak for itself. The chart was drawn prior to today's open.
If you went bullish on calls per my previous post, you are enjoying a nice pop today. My time horizon is longer so I am holding until $38.75 (the next fib level). The MA just crossed and I want that to marinate for a few sessions. You should be just playing with house money now if you bought the day or day after I posted. This is technicals-only trade devoid of...