Morning Update On Most Active Stocks: (NASDAQ: GEVO), (NASDAQ: SVU)
Gevo Inc. (NASDAQ: GEVO) shows neutral trend as the stock made a sharp movement in its latest trading session. It opened the session at $1.85 and remained in $1.83 and $2.22 price range during the session. The stock closed 19.78 percent higher at $2.18. Gevo’s first resistance level is at $2.59. Upon breaching this level, Gevo stock may go as high as $3.19. On the downside, its first support level is at $2.11.
The company recently announced its plan to repurchase its shares worth $15 million. It will fund the repurchase through its cash and equivalent balance. Gevo deals in biofuels and renewable chemicals.
Supervalu Inc. (NYSE: SVU) opened at $2.61 and oscillated in the range of $2.57 and $3.16 in the current trading session. It closed at $2.94, up 13.51 percent from its previous close of $2.59. Supervalu shows bullish trend and the stock’s first resistance level is at $3.17. Upon breaching this level, the stock may touch $3.27. Its first support level is at $2.90. Supervalu is rumored to be in talks with Cerebrus for a deal. Cerebrus is likely to purchase a part of Supervalu and may also purchase stake in the remaining business. The company is based out of Minnesota.
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