- REX American Resources (REX) demonstrates strong technical momentum and is trading at new all-time highs.
- Shares are up 121% over the past 52 weeks.
- The stock maintains a 100% “Buy” technical opinion.
- Rising oil (CLJ26) prices position REX’s ethanol business as a compelling energy alternative.
Today’s Featured Stock
Valued at $1.31 billion, REX American Resources (REX), formerly known as REX Stores Corporation, is engaged in the production and sale of ethanol and distillers grains. The company owns interests in corn- or sorghum-based ethanol production facilities in Illinois, Iowa, and Texas.
What I’m Watching
I found today’s Chart of the Day by using Barchart’s powerful screening functions to sort for stocks with the highest technical buy signals; superior current momentum in both strength and direction; and a Trend Seeker “buy” signal. I then used Barchart’s Flipcharts feature to review the charts for consistent price appreciation. REX checks those boxes.
Barchart Technical Indicators for REX American Resources
Editor’s Note: The technical indicators below are updated live during the session every 20 minutes and can therefore change each day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. These technical indicators form the Barchart Opinion on a particular stock.
REX scored an all-time high of $40.36 on March 12.
- REX has a Weighted Alpha of +109.84.
- It has a 100% “Buy” opinion from Barchart.
- The stock has gained 121.13% over the past 52 weeks.
- REX has its Trend Seeker “Buy” signal intact.
- The stock recently traded at $39.08 with a 50-day moving average of $34.66.
- REX has made 14 new highs and is up 19.57% over the past month.
- Relative Strength Index (RSI) is at 71.28.
- There’s a technical support level around $38.99.
Don’t Forget the Fundamentals
- $1.31 billion market capitalization.
- 26.53x trailing price-earnings ratio.
Analyst and Investor Sentiment on REX American Resources
- Value Line rates the stock “Above Average.”
- CFRA’s MarketScope rates the stock a “Hold.”
- Morningstar thinks the stock is 14% overvalued with a fair value of $34.55.
- 3,179 investors are following the stock on Seeking Alpha.
- Short interest is 3.17% of the float with 3.17 days to cover the float.
The Bottom Line on REX American Resources
Although revenue and earnings dropped last year, rising oil prices make ethanol an energy alternative.
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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