PEIX "Tea Time"

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Ethanol producers have had some hurdles to jump and some did not make it. PEIX             has survived but has paid dearly. The company is making a comeback and so is the stock price. Price is perched here on the edge of a rim. The question is where does it go from here. I have looked for a bear argument but have failed to find one. With corn             pricing and legislation in such favorable latitude, is there anywhere to go but up?

Technically speaking we have a cup in need of a handle. I see the 600 EMA just ahead. This could be trouble but get past that and it could be explosive. We are in a uptrend and I look for the trend to continue. I have marked what I see as a couple of supply points ahead with green horizontal lines. These are targets. The white lines on the chart show what could have been. I see a symmetrical triangle distorted by hard times. The point of this triangle is our stop.
Found this recently and thought this would be a good place to share it.
Still going!
I'm happy! :-)))
This continues to look strong. Fundamentals support a crossing with a record corn harvest expected and ethanol prices climbing with increasing demand.

+1 Reply
2use littleriver
Cant disagree!
+1 Reply
Just posting this chart here to share. A common pattern often seen in a variety of sizes. This one looks ready to move.
Here is chart comparing the price of corn with PEIX. Price of corn goes straight to the bottom line. Another interesting thing here is even if your on the wrong side of the trade at earnings, your not wrong long. Price has returned back to it's starting point nearly every time in recent history. Though, sometimes taking longer than other times.
Never checked this company, but from 4000 to 2 in a matter of years...
Here is fair read with lots of background.
2use littleriver
Nice read indeed :)
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