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Shares of Tesoro Are Moving Lower on 1.3x Above-Average Volume (TSO)

Published on Wed, 04/03/2013 - 13:18
By Peter Chu

Tesoro's stock is down 4.9% to $52.33 on heavy trading volume. About 4.5 million shares have been traded today, as compared to the 30-day average volume of 3.6 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

In the past 52 weeks, shares of Tesoro have traded between a low of $20.77 and a high of $59.90 and are now at $52.33, which is 152% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.8% while the 50-day MA has advanced 0.9%.

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 has overhead space with shares priced $52.33, or 13.8% below the average consensus analyst price target of $60.69. Tesoro shares should encounter resistance at the 50-day moving average (MA) of $53.80 and support at its 200-day MA of $40.97.

By Peter Chu
pchu@fnno.com