Introducing LarkBars & LarkValue, two custom scriptsBoth indicators are designed to find tops and bottoms, both work on all time frames, and the important values are configurable.
• LarkBars plot support and resistance lines _in real time_. These can be used as current turning points when they trigger (should be combine with other indicators), or show past areas of support / resistance.
• LarkValue attempts to show value ares of price movement, marked in green. This can be used as a trigger to get into something, or hold off. Overlaid are two STO lengths, which can be used to watch divergence, or otherwise.
These two scripts are currently private, reworking some of the code.
VLO trade ideas
Oil Refinery Stocks Run Out of Gas $VLOMost of the leading oil refinery stocks are declining again today. This important industry group has been very weak since topping out in May 2013. One of the leading stocks in the sector is Valero Energy Corporation (NYSE:VLO). Today, $VLO is trading lower by 0.39 cents to $34.05 a share. The stock continues to hold near term daily chart support around this current level, but the better support area would be around the $31.00 level. The $31.00 area would be an attractive level for the stock to stage a more significant bounce for the oversold condition on the charts.
Nicholas Santiago
www.InTheMoneyStocks.com