GMOTruths

GPRE — Double Bottom

NASDAQ:GPRE   GREEN PLAINS INC
Double bottom. The bottoms are separated by about 2 weeks. I got in this exactly on the second turn, so up over 16% in two weeks — not too bad.

Strategy:
If it gets to the "Handle Zone" (see chart) and a turns right back up against the resistance line, I will buy more. I think that that would signifiy a breakout with nice gap at way up there at 32.37. If so, that'll be a 75 percenter for me (I got in last week, right on the turn of the cup).

The cup and handle pattern, I see only viable in this type of double bottom situation with the resistance or "supply" line as the top of the cup and handle, as a reversal when price is nearing long-term lows.

Price went up 18% last week and I can't say "sell" on it because of the amount of room on the upside.

Fundamentals:
Renewable energy is trendy.
Earnings beating consistently.
Low price/book value … 1.568.
Quarterly dividends coming at $0.08 per share.
Market sector indicators:
CL1!             might've bottomed out.
BBEP             went up over 20% today WOW! (and I took a 17.5% profit on that one).
CSIQ             is going back up, And even TSL             , too.

There is some more room on the downside, and of oil             goes down to $40, we will see that. If not, there's a lot of

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