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Thursday, September 13, 2012

6 Month of VLO and BIDU

Valero Energy Corporation (VLO) still in a bullish trend with a retest of the support line at $30.  Once VLO has retested the support line, VLO should make another leg higher breaking through it's 52 high of $33.60.




Baidu, Inc. (BIDU) in a bearish trend with resistance at $130 and a retest of the previous lows of $104.05.  Given that it's close to the lows and currently priced at a 17% discount relative to it's resistance at $130, it is better to avoid and wait for better entry point.




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