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Shares of Alon USA Energy Rise Above Previous 52-Week High

Published on Mon, 12/31/2012 - 15:07
By Peter Chu

Shares of Alon USA Energy (NYSE:ALJ) traded today at $17.17, breaking its 52-week high. So far today approximately 1.3 million shares have been exchanged, as compared to an average 30-day volume of 308,000 shares.

Alon USA Energy, Inc. refines and markets oil, operates pipelines, and operates convenience stores. The Company operates a sour crude oil refinery and pipeline, markets gasoline and diesel fuel to retailers, markets unbranded gasoline and diesel and jet fuels, supplies asphalt in West Texas, New Mexico and Arizona, and operates convenience stores in West Texas and New Mexico.

Over the past year, Alon USA Energy has traded in a range of $7.52 to $17.17 and is now at $17.13, 128% above that low. The 200-day and 50-day moving averages have moved 1.10% higher and 1.28% higher over the past week, respectively.

Alon USA Energy (NYSE:ALJ) is currently priced 18.3% above its average consensus analyst price target of $14.00. The stock should discover initial support at its 50-day moving average (MA) of $13.82 and subsequent support at its 200-day MA of $11.24.

By Peter Chu