Valero Energy (VLO) is an oil and gas refining and marketing company that was just rated a new "market perform" with a $155 price target by a Canadian sell-side firm. You probably have passed one of the approximate 7,000 gas stations Valero supplies. Let's check out the charts and indicators for a strategy.
In this daily bar chart of VLO, below, we can see that prices made a base from at least June to January before launching an uptrend. VLO is trading above the rising 50-day moving average line and the rising 200-day moving average line. The trading volume has been increasing since early 2022 and that tells us that there is more interest in this stock and more investors believing in the bullish story.
The daily On-Balance-Volume (OBV) line has been moving higher since July and that confirms that buyers of VLO have been more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator has stayed above the zero line since late December for a bullish signal.