Tesoro Bearish Moving Average Crossover Alert (TSO)

Published on Thu, 02/12/2015 - 12:39
By Robert Cotter in Moving average crossovers, tso, moving crosses, nyse:tso, tesoro

Today, shares of Tesoro (NYSE:TSO) have fallen below their 10-day MA of $84.87 on a volume of 4.0 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.

In the past 52 weeks, shares of Tesoro have traded between a low of $46.88 and a high of $89.18 and are now at $81.81, which is 75% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.7% while the 50-day MA has advanced 0.7%.

Tesoro (NYSE:TSO) has potential upside of 16.3% based on a current price of $81.81 and analysts' consensus price target of $95.18. The stock should find initial support at its 50-day moving average (MA) of $76.37 and further support at its 200-day MA of $65.64.

By Robert Cotter
rcotter@fnno.com

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