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Clean Energy Fuels Trading Higher on 1.9x Above-Average Volume (CLNE)

Published on Thu, 04/25/2013 - 13:17
By Adrienne Chilton

Shares of Clean Energy Fuels are trading today in above average volume, with the share price rising 2.7% to $13.54. Today's volume of 2.3 million shares tops the average 30-day volume of 1.2 million shares. Spikes in volume can validate a breakout or signify a potential turning point.

Potential upside of 22.3% exists for Clean Energy Fuels, based on a current level of $13.54 and analysts' average consensus price target of $16.56. The stock should discover initial support at its 200-day moving average (MA) of $13.20 and subsequent support at its 50-day MA of $12.92.

Clean Energy Fuels Corporation designs, builds, finances and operates natural gas filling stations for vehicle fleets. The Company also helps its customers acquire and finance natural gas vehicles and obtain local, state, and federal clean air rebates and incentives.

In the past 52 weeks, shares of Clean Energy Fuels have traded between a low of $10.90 and a high of $19.69 and are now at $13.54, which is 24% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.3%.

By Adrienne Chilton
achilton@fnno.com