Valero Energy Trading Analysis (09/11/2023)

The trend is ascending. The stock is traded in the range between 365 and 135 MA. The downward wave structure us truncated. There is bullish divergence on the Awesome Oscillator.
 

Trading idea:

Buy at the formation of the ascending wave structure, when the A-wave breaches the sloping channel of the descending truncated structure.

Stop-Loss: 121.00.

Target price levels: 134.50, 148.00.
 

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