TSO- Tesoro Refinery stock.
On the weekly chart, Tesoro stock has a very nice trendline/resistence line. Chances are it will break upwards.
For traders and investors interested in cyclical stocks, refinery stocks are worth watching.
If the breakout occurs in TSO, it should be traded with a stoploss just below the exntended trendline. This industry has been in bust for last few years and when the fortunes changes, these stock can return 200-300% return over a year or two.
(The Crude Oil is in interesting stage. At $90, its technical requirements can be met for the great drop from $145 level to low $30s level, assuming 50% retracement. Anyway, if the Oil goes down, the margin for the refiners should improve)
As always, keep a stoploss if you enter into this stock. Also there is no trading signal right now. Just watch it and act when it breaks the trend line from below. Then stay long, as long as the prices are above the extened trend line or risk 10% loss from your purchase price- no more.
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