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Alon USA Energy(ALJ - Get Report) is an independent refiner and marketer of petroleum products operating primarily in the South Central, Southwestern and Western regions of the U.S. This stock is trading up 3.8% at $14.38 in recent trading.
Today's Volume: 1.4 million
Average Volume: 469,460
Volume % Change: 648%
>>5 Stocks Poised for Breakouts
From a technical perspective, ALJ is bouncing notably higher here right off some near-term support at $13.50 with monster volume. This move is quickly pushing ALJ within range of triggering a near-term breakout trade. That trade will hit once ALJ manages to clear some near-term overhead resistance at $14.26 to $14.60 with high volume.
Traders should now look for long-biased trades in ALJ as long as it's trending above its 50-day at $13.05, and then once it sustains a move or close above those breakout levels with volume that hits near or above 469,460 shares. If that breakout triggers soon, then ALJ will setup to re-test or take out its three-year high at $15.21.