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Recent 52-Week Low Surpassed in Shares of Pacific Ethanol (PEIX)

By Shiri Gupta

Pacific Ethanol (NASDAQ:PEIX) traded at a new 52-week low today of $2.00. So far today approximately 145,000 shares have been exchanged, as compared to an average 30-day volume of 401,000 shares.

Over the past year, Pacific Ethanolhas traded in a range of $2.00 to $6.05 and are now at $2.00. In the last five trading sessions, the 50-day moving average (MA) has fallen 3% while the 200-day MA has slid 1.4%.

Pacific Ethanol has overhead space with shares priced $2.00, or 79.5% below the average consensus analyst price target of $9.75. The stock should run into initial resistance at its 50-day moving average (MA) of $2.67 and subsequent resistance at its 200-day MA of $3.62.

Pacific Ethanol, Inc. produces and markets low-carbon ethanol. The Company also identifies and develops other renewable fuel technologies, such as cellulose-based ethanol production and bio-diesel.

SmarTrend recommended that its subscribers protect gains by selling shares of Pacific Ethanol on March 7th, 2018 by issuing a Downtrend alert when the shares were trading at $3.55. Since that call, shares of Pacific Ethanol have fallen 40.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows pacific ethanol

Ticker(s): PEIX