VALERO ENERGY CORP (VLO-NYSE): Technical Viewpoint: From a low of $35.34 on Jan 8, 2003 prices rallied, reaching a high of $38.69 on Jan 16, 2003. A decline saw prices pull back, reaching a low of $32.20 on Jan 28, 2003. Another rally saw prices penetrate resistance, closing 2/6/03 at $37.92. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Feb 6, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $34.50. Resistance: Is at $38.89. Point & Figure: Reversed to the upside on Jan 29, 2003. A P&F upside reversal takes place at $35.25. Summary: Technical indicators have turned bullish. BUY! VALERO ENERGY CORP (VLO-NYSE) @ $38.13 Stop: Use a protective stop of $36.13. VALERO ENERGY CORP is currently trading @ $37.92 plus $2.00 on Feb 6, 2003. Price Objective: $48.00. Risk/Reward: $2.00 VS. $9.88. Today's Risk Reward Ratio: 5:1