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>>5 Stocks Set to Soar on Bullish Earnings
From a technical perspective, GPRE bounced higher here right above some near-term support at $15.41 with above-average volume. This stock has found buying interest over the last two months, each time it has pulled back to $15 or just above that level. Shares of GPRE are now starting to trend within range of triggering a major breakout trade. That trade will hit if GPRE manages to take out some near-term overhead resistance levels at $16.85 to $17.45 and then once it clears its 52-week high at $18.40 with high volume.
Traders should now look for long-biased trades in GPRE as long as it's trending above some key near-term support levels at $15.41 or at $14.96 and then once it sustains a move or close above those breakout levels with volume that this near or above 478,911 shares. If that breakout hits soon, then GPRE will set up to enter new 52-week-high territory above $18.40, which is bullish technical price action. Some possible upside targets off that breakout are $22 to $25.