Valero Trading Analysis (13/08/2024)
The trend is descending. The stock is trading in the range between 365 and 135 ЕМА. The upward wave structure finished with the breach of the sloping channel. There is a bearish divergence on the Awesome Oscillator, and the moving averages of the Stochastic Oscillator are out of the overbought condition.
Trading idea:
- Sell at the breach of 150.50.
- Stop-loss at 153.50.
- Price targets at 147.20 and 144.00.
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