The reopening trade remains in full swing as buyers target cyclical companies with low valuations. Valero Energy could be a name to watch.
The oil-refinery stock has a few interesting chart patterns. First is the downward-sloping trend line in place since early 2020. VLO broke it in November and has remained above it since.
Meanwhile, its 50-day simple moving...
Technical Analysis
On november 24th, JETS broke out above its june highs, and consolidated (orange square), demonstrating a successful break out of the channel. Now it shows a flag, showing potential for more upside.
There is a strong resistance level at $27.7; at this point I would expect a pullback, to ultimately reach the top of the gap around $30.
I am...