The bullish DailyPlay we chose for Thursday Feb 1st is Valero Energy (VLO). VLO is part of the Energy Sector (XLE). Over the last month, XLE has experienced a 3.58% move higher and its 1m and 6m trend has turned bullish on 11/30 and recently bounced higher off its $74 support level.
Valero Energy’s 1m and 6m trends turned bullish on 8/24 and recently bounced higher off its $95 support level. With a technical score of 9 (out of 10), VLO is a strong bullish stock that will likely continue higher.
As a stop loss, if VLO was to trade below $95 for multiple days, this would invalidate our analysis and suggest getting out of the trade.
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