VALERO ENERGY CORP (VLO-NYSE): Technical Viewpoint: From a low of $32.20 on Jan 28, 2003 prices rallied, reaching a high of $38.40 on Feb 7, 2003. A decline saw prices pull back, reaching a low of $35.51 on Feb 13, 2003. Another rally saw prices penetrate resistance, closing 2/24/03 at $38.82. 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 $36.50. Resistance: Is at $38.89. Point & Figure: Reversed to the upside on Feb 21, 2003. A P&F upside reversal takes place at $37.00. Summary: Technical indicators have turned bullish. BUY! VALERO ENERGY CORP (VLO-NYSE) @ $38.88 Stop: Use a protective stop of $36.88. VALERO ENERGY CORP is currently trading @ $38.82 plus $1.31 on Feb 24, 2003. Price Objective: $55.00. Risk/Reward: $2.00 VS. $16.12. Today's Risk Reward Ratio: 8:1