One leading stock sector that was struggling to catch a bid, this morning, is the oil refinery stocks. One of the leading stocks in the industry group is Tesoro Corp. (TSO). Earlier today, TSO was trading lower by 0.88 cents to $58.63 a share. Day traders can watch for intra-day support around the $59.14, and $58 levels. The daily chart of TSO is still holding up well trading above the important 50 and 200-day moving averages. Swing traders should note the daily chart of TSO will have support around the $52.50 level.
Other Refiners
A few other leading oil refinery stocks that are coming under some selling pressure today including Marathon Petroleum Corporation (MPC), Valero Energy Corporation (VLO), Western Refining, Inc. (WNR) and Phillips 66 (PSX). The stocks in the sector usually trade closely in tandem with each other. Just remember that the oil-refinery stocks are affected by oil prices, weather, and geopolitical events.