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Friday, September 15, 2006 

Chart of the day : VLO ( Valero Energy )

Chart courtesy of stockcharts

VLO isn't in a good trade momentum , however I see some good buy signals that may push the stock up next week. If we look at the chart the stock is under an accumulation at these levels, the volume pickup in the last sessions that could mean a turn point for the stock, also the stock is in a very oversold conditiions suggesting a bounce from this lows, let's see if the crude Oil continues the momentum as showed today in the afternoon with a hard rebound, I'll not be surprised by a rally next week, it's my opinion based in the today trade momentum. After falling as low as $62.03 a barrel, light sweet crude for October settled at $63.33, a gain of 11 cents on the New York Mercantile Exchange.
The $50 support worked well today.

Keep in mind : Trading stocks involves risk, this information should not be viewed as trading recommendations.

About NVDA ( last post ) - Stock closed very well today, so the double top formation isn't more valid, may be the stock will now test the year highs.

That's All. Have a great weekend !!!!

AC

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  • I'm a 43 year old Independent Trader using proprietary technical analysis with more than 18 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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