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Shares of Pacific Ethanol Has Fallen Below Previous 52-Week Low

By Nick Russo

Shares of Pacific Ethanol (NASDAQ:PEIX) traded at a new 52-week low today of $2.80. This new low was reached on below average trading volume as 136,000 shares traded hands, while the average 30-day volume is approximately 588,000 shares.

There is potential upside of 281.0% for shares of Pacific Ethanol based on a current price of $2.80 and an average consensus analyst price target of $10.67. The stock should run into initial resistance at its 50-day moving average (MA) of $4.54 and subsequent resistance at its 200-day MA of $5.21.

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.

Pacific Ethanol share prices have moved between a 52-week high of $10.95 and the current low of $2.80 and are currently at $2.80 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.5% while the 200-day MA has slid 1.7%.

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 20.4%. 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