Green Plains Renewable Energy

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Green Plains Renewable Energy ( GPRE) is a producer, marketer and distributer of ethanol. This stock closed up 4.3% at $17.30 in Monday's trading session.

Monday's Volume: 804,000
Three-Month Average Volume: 460,550
Volume % Change: 90%

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From a technical perspective, GPRE bounced sharply higher here right above some near-term support at $15.51 and above its 50-day moving average of $15.08 with above-average volume. This move is quickly pushing shares of GPRE within range of triggering a major breakout trade. That trade will hit if GPRE manages to take out Monday's high of $17.49 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 near-term support at $15.51 and then once it sustains a move or close above those breakout levels with volume that's near or above 460,550 shares. If that breakout hits soon, then GPRE will set up to enter new 52-week-high territory, which is bullish technical price action. Some possible upside targets off that breakout are $20 to $25

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