Renewable Energy Group
Renewable Energy Group (REGI) 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-$6.9952-Week Range: $4.28-$10.65 Volume: 386,000 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.
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