Holly Frontier

HollyFrontier (HFC) completed a continuation rectangle by closing above 47.20. Furthermore, the stock is now above its 200 MA first time since early June. HFC is in the same sector as Valero (VLO) Oil & Gas Refining and Marketing. Take a look at an earlier post on VLO. Notice anything ? Target is $54.50

 

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The Largest Corporate Spinoff in 1980

Valero was established in 1980 as a result of a spinoff of Coastal Gas Corp, which was at that time the largest spinoff in US history. Fast forward today on the technical side…Valero Energy (VLO) almost completed a double bottom continuation pattern with a neckline at $37.50.  A break through the neckline targets  $41.50.

VLO Daily

VLO Daily