Sunoco (SUN) Stages A Major Intra-Day Bounce

Sunoco Inc. (NYSE:SUN) is a major oil refiner that started the morning sharply lower after reporting earnings. The stock has rebounded higher since the opening bell rang at the New York Stock Exchange. Sunoco stock opened the session around the $41.00 level and bounced higher and is now trading around the $43.00 level. Traders can watch yesterday’s high as the important intra-day resistance level which is $43.75.

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Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.

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