Valero Energy Corporation(VLO) is in an downtrend but momentum is showing some life

(28-Feb-2008) (28-Feb-2008) Valero Energy Corporation(VLO) closed at 60.81, down -1.55 or -2.49 % today. Based on our analysis, Valero Energy Corporation(VLO) is in an downtrend but momentum is showing some life.

The closing price of Valero Energy Corporation(VLO) is below its 50 day moving average of 61.39 (Designated by blue line). This indicates that the trend is down. The MACD histogram(Gray bars on the bottom) above the signal line(Dark Red Line) tells us that Valero Energy Corporation(VLO) is gaining momentum. An downtrend with sustained rising momentum could be early sign of reversal. The MACD histogram crossed above the signal line on 29-Jan-2008, about 22 trading days ago.