Tesoro Bearish Moving Average Crossover Alert (TSO)

Published on Mon, 04/01/2013 - 11:16
By Peter Chu in Moving average crossovers, tso, moving crosses, nyse:tso, tesoro

Today, shares of Tesoro (NYSE:TSO) have fallen below their 10-day MA of $57.91 on a volume of 1.3 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

Tesoro Corporation refines and markets petroleum products, and provides transporting services. The Company operates refineries, as well as a network of retail and refueling stations in the western United States. Tesoro also markets gasoline and diesel fuel to independent marketers and commercial end users.

Tesoro share prices have moved between a 52-week high of $59.90 and a 52-week low of $20.77 and are now trading 174% above that low price at $56.85 per share. Over the last five market days, the 200-day moving average (MA) has gone up 1.8% while the 50-day MA has advanced 2.4%.

Potential upside of 6.8% exists for Tesoro, based on a current level of $56.85 and analysts' average consensus price target of $60.69. The stock should find initial support at its 50-day moving average (MA) of $53.31 and further support at its 200-day MA of $40.64.

By Peter Chu
pchu@fnno.com

Latest News from FNNO

Quiksilver: New 52-Week Low Set Today (Z...

Quiksilver (NYSE:ZQK) traded at a new 52-week low today of $3.08. So far today approxi ...

Xerox: The Winning Streak Continues (XRX...

Xerox (NYSE:XRX) traded at a new 52-week high today of $13.38. This new high was reach ...

Watch for Continued Losses in Shares of ...

Titan International (NYSE:TWI) traded today at a new 52-week low of $13.93. Approximat ...

Take-Two Interactive Software: The Winni...

Take-Two Interactive Software (NASDAQ:TTWO) traded at a new 52-week high today of $23.6 ...

Glacier Bancorp Shares Sinking Lower, Do...

One of today's stocks on the move is Glacier Bancorp (NASDAQ:GBCI), down 1.7% to $26.56 ...

Shares of TeleNav Fall Below Previous 52...

TeleNav (NASDAQ:TNAV) traded at a new 52-week low today of $5.03. Approximately 85,000 ...

Tempur-Pedic International Makes a Move:...

Tempur-Pedic International (NYSE:TPX), a company whose shares are moving quickly, is tr ...

Recent 52-Week Low Surpassed in Shares o...

Shares of Theravance (NASDAQ:THRX) traded today at $22.01, breaking its 52-week low. A ...