🔷 Overdone

Trade Alert - Valero is a buy

I think the selloff in oil is a bit overdone.

Similarly, the selloff in Valero (VLO) is also overdone and as such, it’s time to pick up some shares for a trade.

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📈 Let’s look at the charts

Valero Energy - VLO

Daily Chart - No lines. No drawings. No bias.

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Same chart zoomed out a bit, going back 4 years.

Price testing KEY support at the $104 area. 👇

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Same chart, different trend line.

Testing key support as well.

Buy now. Add on green support line if it gets there.

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Same chart - looking at RSI (relative strength index)

Extremely oversold.

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If current price does not hold. I’ll add more at the $97 area.

There you have it.

My latest trade idea.

I bought VLO.

Hope this helps.

Eric