Tuesday, December 22, 2015
Green Plains Inc (NASDAQ: GPRE)
Green Plains Inc. produces, markets, and distributes ethanol in the
United States. The company operates through four segments: Ethanol
Production, Corn Oil Production, Agribusiness, and Marketing and
Distribution. It produces ethanol and co-products, such as wet, modified
wet, or dried distillers grains, as well as extracts non-edible corn
oil that is used as feedstock for biodiesel, livestock feed additives,
rubber substitutes, rust preventatives, inks, textiles, soaps, and
insecticides.
Take a look at the 1-year chart of Green (NASDAQ: GPRE) below with my added notations:
Over the past 4 months GPRE has been trending consistently higher, while also forming a nice trend line of support (green). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. A pullback to that line will provide trading opportunities, one way or another.
The Tale of the Tape: GPRE has a trend line support to monitor. A long position could be entered on a pullback to the trendline, with a stop placed below the level of entry. A short position could be entered if GPRE were to break below its trendline.
Take a look at the 1-year chart of Green (NASDAQ: GPRE) below with my added notations:
Over the past 4 months GPRE has been trending consistently higher, while also forming a nice trend line of support (green). Always remember that any (2) points can start a trend line, but it’s the 3rd test and beyond that confirm its relevance. A pullback to that line will provide trading opportunities, one way or another.
The Tale of the Tape: GPRE has a trend line support to monitor. A long position could be entered on a pullback to the trendline, with a stop placed below the level of entry. A short position could be entered if GPRE were to break below its trendline.
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