Valero Energy Stock Forecast
Valero Energy stock upgraded from Sell Candidate to Buy Candidate after Tuesday trading session.
(Updated on Apr 23, 2024)
The Valero Energy stock price gained 0.98% on the last trading day (Tuesday, 23rd Apr 2024), rising from $165.90 to $167.52. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.53% from a day low at $163.48 to a day high of $167.61. The price has fallen in 6 of the last 10 days and is down by -4.96% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 339 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $316.12 million.
The stock lies in the lower part of a wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $164.76 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 32.42% during the next 3 months and, with a 90% probability hold a price between $218.17 and $254.93 at the end of this 3-month period.
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VLO Signals & Forecast
The Valero Energy stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $166.68 and $166.65. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Friday, April 05, 2024, and so far it has fallen -8.65%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). The stock had a Golden Star Signal on Wednesday, January 24, 2024 in the long-term chart.
Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Golden Star 12 Months
The stock had a Golden Star Signal on Wednesday, January 24, 2024 in the long-term chart.Golden Star Signal is when the short-term moving average, the long-term moving average, and price line meet in a special combination. This combination is very rare and often followed by long and strong gains for the stock in question.
Support, Risk & Stop-loss for Valero Energy stock
Valero Energy finds support from accumulated volume at $163.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $4.13 between high and low, or 2.53%. For the last week, the stock has had daily average volatility of 2.84%.
Our recommended stop-loss: $157.83 (-5.78%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (VLO) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect Valero Energy Corporation to open at $166.20, and during the day (based on 14 day Average True Range), to move between $163.04 and $172.00, which gives a possible trading interval of +/-$4.48 (+/-2.67%) up or down from last closing price. If Valero Energy Corporation takes out the full calculated possible swing range there will be an estimated 5.35% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $169.57 (1.22%) than the support at $163.70 (2.28%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Earnings coming up
Valero Energy will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $3.20. We will update the financials statements for Valero Energy, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.74% in the first trading day after earnings release.
Is Valero Energy Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Valero Energy stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 1.825 Buy Candidate Upgraded
Predicted Opening Price for Valero Energy Corporation of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $166.20 ( 0.786%) | $167.52 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for VLO
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 170.33 | 1.68 % | |
| R2 | 168.76 | 0.738 % | ||
| R1 | 167.78 | 0.156 % | ||
| Current price: | 167.52 | |||
| Support | S1 | 164.63 | -1.73 % | |
| S2 | 163.65 | -2.31 % | ||
| S3 | 162.07 | -3.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 180.37 | 7.67 % | |
| R2 | 176.26 | 5.22 % | ||
| R1 | 169.57 | 1.22 % | ||
| Current price | 167.52 | |||
| Support | S1 | 163.70 | -2.28% | |
| S2 | 137.91 | -17.68% | ||
| S3 | 134.46 | -19.73% |
VLO Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 31, 2024 | Jan 31, 2024 | Mar 04, 2024 | $1.07 | 0.739% |
| 2 | Nov 07, 2023 | Nov 16, 2023 | Dec 20, 2023 | $1.02 | 0.770% |
| 3 | Jul 20, 2023 | Aug 03, 2023 | Sep 05, 2023 | $1.02 | 0.766% |
| 4 | Jul 20, 2023 | Aug 02, 2023 | Sep 05, 2023 | $1.02 | 0.766% |
| 5 | May 09, 2023 | May 22, 2023 | Jun 22, 2023 | $1.02 | 0.92% |
FAQ
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