Wednesday, August 27, 2008

VLO - Breaking out?

Vlo broke through 50 day moving average 35.45, climbed upto 35.95 and retraced back. Its going above 35 again. Are we seeing a breakout here?
At least street.com says so
http://cosmos.bcst.yahoo.com/up/player/popup/?rn=289004&cl=9401170&src=finance&ch=633473

2 comments:

Bluedog said...

Nice catch. I knew VLO would make a move soon. I'd wait until it breaks out of the 50 DMA prior to entering.

MatchPointTrader said...

I guess you are spot on. VLO went again upto 35.98 and now fell below 35. Its better to wait until it breaks out.