Yesterday, many of the leading refinery stocks were trading higher on the session. The move higher in the refinery stocks come despite the overall weakness in the energy sector. One of the leading oil refiner stocks in the market is Valero Energy Corp (VLO). Yesterday, VLO was trading higher by $1.81 to $48.43 a share. This is a new 52-week high for the stock. The daily chart will have near term resistance around the $50.00 level. Short term traders should watch for intra-day resistance around the $48.50, and $49.00 levels.
Some other leading oil refining stocks that are trading higher today include Tesoro Corporation (TSO), HollyFrontier Corp (HFC), Western Refining Inc (WNR), and Phillips 66 (PSX). All of these stocks remain in solid up-trends on the daily chart by trading above their 50 and 200-day moving averages.