HollyFrontier Corp & Valvoline Inc. are the ones to notice as they lead energy stocks on an uptrend.
Leading equity indices in the US declined as S&P 500 closed at 3,941.26, a 1.44% change. Nasdaq shed 2% and closed at 11,000.
Meanwhile, United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -6.43 million, while the previous figure was -7.85 million.
What is an uptrend?
A trend is the overall direction of a market or an asset's trading price over a certain period. An uptrend is when the price is generally pointing upwards; there can be certain periods of time when the price falls, yet the trend remains in an upward direction.
A 9 day, 2.74% uptrend: HollyFrontier posts record single day jump of 71 cents (+2%)
HollyFrontier Corp has posted further gains as part of a 9 day trend that has already seen the stock gain 26 cents. HollyFrontier pointed in the same direction yesterday: HollyFrontier went up to $36.39 yesterday after ending Monday at $35.68. Overall, a 2% move or 71 cents. Daily trading volume (4.78 million shares) increased, making up 119% of the 21-day average (4 million).
A 6 day uptrend, goes up by 1.95%: Risk-on sentiment allowed Valvoline to post 0.34% gain yesterday
Valvoline has posted further gains as part of a 6 day trend that has already seen the stock gain 52 cents. yesterday's session pointed in the same direction — after closing at $32.9 yesterday, Valvoline maintained a strong bullish bias that helped the stock close higher at $32.9. However, market bears ensured the the automotive oil manufacturer topped out at $33.05 and that by the end of the session, the market had marked out a distinct $32.49 to $33.05 range. The volume of trade was 1.75 million shares, close to the daily average of 1.76 million shares.