TMCnet News
Tesoro (TSO) Approaches New Upside Target of $65.27May 20, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Tesoro (NYSE:TSO) have bullishly opened above the pivot of $61.20 today and have reached the first resistance level of $63.75. Analysts will be watching for a cross of the next upside pivot targets of $65.27 and $69.34. In the past 52 weeks, shares of Tesoro have traded between a low of $21.58 and a high of $65.44 and are now at $65.40, which is 203% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.7% while the 50-day MA has remained constant. Tesoro (NYSE:TSO) defies analysts with a current price ($65.40) 2.0% above its average consensus price target of $64.07. The stock should find initial support at its 50-day moving average (MA) of $55.21 and further support at its 200-day MA of $45.67. SmarTrend recommended that subscribers consider buying shares of Tesoro on April 24th, 2013 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $54.86. Since that recommendation, shares of Tesoro have risen 13.5%. We continue to monitor TSO for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |