StockBrosResearch

Pacific Ethanol (PEIX) Look for signs of a bullish reversal

Long
NASDAQ:PEIX   ALTO INGREDIENTS INC
This stock is clearly in a strong up trend. The trade here is simple. Volume is generally greater when the stock is going up versus when the stock is going down. Here's an example: Look at the previous 3 red days. Compare the volume of those 3 days to the volume of the few green days before that. This suggests that the sell off is most likely short-term profit taking.

Look for a reversal pattern/candle to form, and then go long. I would expect it to at least try to retest the previous highs, but it's too early to say. Right now, I am just looking for a reversal signal. A nice spot for a reversal would be at the 20 EMA , just like last time.

- Andre, StockBros Research
Trade active: PEIX gained almost 20% today. Full profits or partial profits can be taken, but there is likely more up side and I will be looking to buy this on a potential morning dip tomorrow.
Trade closed manually: This is a good spot to close it at $8.75.

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