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Shares of Alon USA Energy Are Moving Higher on 3.7x Above-Average Volume (ALJ)

Published on Mon, 12/31/2012 - 14:07
By Peter Chu

Alon USA Energy's stock is up 13.1% to $17.13 on heavy trading volume. Today's volume of 1.1 million shares tops the average 30-day volume of 308,000 shares. Spikes in volume can validate a breakout or signify a potential turning point.

Alon USA Energy (NYSE:ALJ) defies analysts with a current price ($17.13) 18.3% above its average consensus 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.

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.

Alon USA Energy share prices have moved between a 52-week high of $17.17 and a 52-week low of $7.52 and are now trading 128% above that low price at $17.13 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.3% while the 200-day MA has risen 1.1%.

By Peter Chu