PEIX downgraded
Thursday, September 20, 2007
Pacific Ethanol were down today more than 8& to $10.23 after an analyst downgraded some ethanol producers, such as PEIX, slashing his price targets and predicting the industry's "growing pains" will continue due to small profit margins and oversupply. This anlalyst drowgraded Pacific Ethanol to "Underperform," from "Market Perform" lower also its price target to $8 from $15. Looking at the daily chart, stock is still trading in a clear Bearish Market trading below its 20,50 and 200 dma. All Indicators are also showing lack of momentum to move up, with MACD below and RSI pushing down again, so keep an eye and be careful on PEIX for a possible breakdown of $10.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.
Labels: PEIX
