Valero Energy (VLO) has been improving since its August low. Prices have made higher lows and higher highs -- the simple definition of an uptrend. The On-Balance-Volume line is rising and prices have swung back and forth around the 50-day Moving Average.
In this chart above, we can see a long uptrend for VLO interrupted by lengthy corrections. The OBV line is positive and the Moving Average Convergence Divergence oscillator is poised for a new buy signal with a crossover above zero. VLO could rally into the mid-$70s in the next couple of months.