Long
Pacific Ethanol (PEIX) Look for signs of a bullish reversal
Updated
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
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.