This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration. Need a new registration confirmation email? Click here
Renewable Energy Group(REGI - Get Report) is the largest producer of biodiesel in the United States. It markets and distributes its biodiesel throughout the country to all segments of the petroleum-based distillate fuel supply chain. The stock is trading up 8.2% to $6.92 in recent trading.
Today's Range: $6.52-$6.99
52-Week Range: $4.28-$10.65
Three-Month Average Volume: 172,397
From a technical perspective, REGI is trending higher here back above its 200-day moving average at $6.80 with above-average volume. This stock recently bounced strongly right off its 50-day moving average and it's now moving within range of triggering a major breakout trade. That trade will hit if REGI manages to clear some near-term overhead resistance at $7.50 with high volume.
Traders should now look for long-biased trades in REGI as long as it's trending above $6.40, and then once it sustains a move or close above $7.50 with volume that hits near or above 172,397 shares. If REGI triggers that breakout soon, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $8 to $9. Any high-volume move above $9 could then send REGI towards $9.50 to $10 in the near future.
-- Written by Roberto Pedone in Winderemere, Fla.