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

(29-Apr-2008) (29-Apr-2008) Valero Energy Corp.(VLO) closed at 51.49, down -1.44 or -2.72 % today. Based on our analysis, Valero Energy Corp.(VLO) is in an downtrend but momentum is showing some life.

The closing price of Valero Energy Corp.(VLO) is below its 50 day moving average of 52.71 (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 Corp.(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 28-Mar-2008, about 24 trading days ago.