user warning: Got error 28 from storage engine query: SELECT t.* FROM term_node r INNER JOIN term_data t ON r.tid = t.tid INNER JOIN vocabulary v ON t.vid = v.vid WHERE r.vid = 469225 ORDER BY v.weight, t.weight, in /var/www/ on line 617.

Tesoro Bearish Moving Average Crossover Alert (TSO)

Published on Mon, 04/01/2013 - 11:16
By Peter Chu

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