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Pacific Ethanol, Inc. (PEIX): Watch Out For Technical Signs

Pacific Ethanol, Inc. (NASDAQ:PEIX) gained 9.20% in yesterday’s session, going up from its prior closing price of $4.35 to $4.75, and has now recorded rally in 3 consecutive sessions. Many in the market will be closely watching whether this winning streak is sustainable or take a temporary pause for the next couple of trading sessions. The stock price went upward in 5 of the last 10 days and has generated 4.4% during the last two weeks. The upbeat movement of both volume and price during the recent session is interpreted as a good sign, and, overall 331 946 more shares exchanged hands compared with prior day. In total, 775 278 shares was the trading volume and the dollar amount of trading equals $3.68 million.

Inside PEIX’s Recent Trend

Pacific Ethanol, Inc. (PEIX) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -24.78% over the course of a quarter and, with 90% chance the price will be floating in the range of $3.09 and $3.99 in this timeframe.

Pacific Ethanol, Inc. Technical Signals



PEIX is a buy based on short-term MA; at the same time, however, a sales signal from the long-term average. Since the longterm average is above the short-term average there is a general sales signal in the stock. On additional rally, the share price will meet long term resistance at around $5.35. On a drop, the stock is likely to find some support over the short run, which begins at $4.37. A buy signal will be generated if it crosses above the long term moving average. Meanwhile, a price down versus the short-term MA will be a fresh sales call.

Pacific Ethanol, Inc. (NASDAQ:PEIX) Support And Resistance Levels

Pacific Ethanol, Inc. (PEIX) recorded volume accumulation so there will probably be a surplus of buyers at $4.55. In case of gains, the next resistance from accumulated volume will be at $5.65, $5.75 and $5.90.




Pacific Ethanol, Inc. (PEIX) Risk Assessment

A volatility based measure Bollinger Bands suggests this stock poses high risk. In the most recent session, the stock price hovered around $0.55 between high and low, or 12.64%. The average volatility for the past week stood at 5.61%.

 

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