Tesoro Corporation, together with its subsidiaries, engages in
refining and marketing petroleum products in the United States. It
operates in two segments, Refining and Retail. The Refining segment
refines crude oil and other feed stocks into transportation fuels, such
as gasoline, gasoline blendstocks, jet fuel, and diesel fuel, as well as
other products, including heavy fuel oils, liquefied petroleum gas,
petroleum coke, and asphalt. This segment also sells refined products in
the wholesale market primarily through independent unbranded
distributors; and in the bulk market primarily to independent unbranded
distributors, other refining and marketing companies, utilities,
railroads, airlines and marine, and industrial end-users. It owns and
operates 7 refineries with a combined crude oil capacity of
approximately 675 thousand barrels per day. The Retail segment sells
gasoline, diesel fuel, and convenience store items through
company-operated retail stations, and third-party branded dealers and
distributors in the western United States.
To review Tesoro's stock, please take a look at the 1-year chart of TSO (Tesoro Corporation) below with my added notations:
TSO has made rallied higher since bottoming back in May. For the last
(4) months though, TSO formed a 52-week high resistance level at $45
(navy). Earlier this week the stock broke through that resistance on
route to a new 52-week high. A pull back could provide a nice long entry
on the stock.
The Tale of the Tape: TSO broke out to a new 52-week
high earlier this week. A long trade could be made at $45 with a stop
placed below that level. A break below $45 would negate the forecast for
a move higher.
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