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Equity Bottom-Up

Rex American Resources / Equity Bottom-Up

<ul>
  <li>REX is a highly efficient ethanol producer with a strong operational track record, evidenced by its high resilience and growth scores and nineteen consecutive profitable quarters.</li>
  <li>The company is making significant strategic investments in carbon capture and sequestration (CCS) and ethanol capacity expansion, positioning it to capitalize on substantial federal tax credits (45Q and 45Z) and the growing demand for low-carbon fuels.</li>
  <li>Despite strong profitability, the company faces risks inherent to the ethanol industry, including volatility in commodity prices, dependence on government regulatory support (like the Renewable Fuel Standard), and the long-term threat of electric vehicle adoption.</li>
</ul><p><em>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.</em></p>


  REX is a highly efficient ethanol producer with a strong operational track record, evidenced by its high resilience and growth scores and nineteen consecutive profitable quarters.
  The company is making significant strategic investments in carbon capture and sequestration (CCS) and ethanol capacity expansion, positioning it to capitalize on substantial federal tax credits (45Q and 45Z) and the growing demand for low-carbon fuels.
  Despite strong profitability, the company faces risks inherent to the ethanol industry, including volatility in commodity prices, dependence on government regulatory support (like the Renewable Fuel Standard), and the long-term threat of electric vehicle adoption.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

Primer: Rex American Resources (REX US) - Apr 2026

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

Rex American Resources / Technical Analysis

<ul>
<li>We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).</li>
<li>We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.</li>
<li>SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.</li>
</ul>


We remain near-term bullish since our 4/22/25 Compass, and our intermediate-term outlook remains bullish as well (as of our 5/14/25 Compass).
We will maintain our bullish outlook as long as market dynamics remain healthy and the SPX is above 6028-6059. Short-term supports on SPX include 6400-6410, 6200, 6100-6150, and 6028-6059.
SPX is testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226, respectively. This makes us believe we could see some near-term downside; buy pullbacks.


Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

<ul>
<li>We are officially downgrading our outlook to bearish with the S&amp;P 500 (SPX) violating major support at 6480-6520, NQ violating 24,000, and Russell 2000 (IWM) breaking below crucial $245 support.</li>
<li>This comes after downgrading our outlook to neutral in our 3/3/26 Compass.</li>
<li>We view this latest rally as a selling opportunity at resistance at 6480-6520 and the 200-day MA</li>
</ul>


We are officially downgrading our outlook to bearish with the S&amp;P 500 (SPX) violating major support at 6480-6520, NQ violating 24,000, and Russell 2000 (IWM) breaking below crucial $245 support.
This comes after downgrading our outlook to neutral in our 3/3/26 Compass.
We view this latest rally as a selling opportunity at resistance at 6480-6520 and the 200-day MA


Downgrading Outlook to Bearish; Stay Defensive; $SPX Rally a Selling Opportunity?

<ul>
<li>Our outlook as of our (3/3/26 Compass) remains near-term neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).</li>
<li>The local low from 3/9/26 still holds, but we are increasingly concerned about potential support violations.</li>
<li>Crucial supports (and downside triggers) are $245 on the Russell 2000(IWM), the 200-day MA (currently 6613) and 6480-6520 on SPX, and 6-month support at 24,000 on Nasdaq 100 futures (NQ)</li>
</ul>


Our outlook as of our (3/3/26 Compass) remains near-term neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).
The local low from 3/9/26 still holds, but we are increasingly concerned about potential support violations.
Crucial supports (and downside triggers) are $245 on the Russell 2000(IWM), the 200-day MA (currently 6613) and 6480-6520 on SPX, and 6-month support at 24,000 on Nasdaq 100 futures (NQ)


At a Crossroads; Downgrading Transportation; Significant Downside Air Pocket Risk

<ul>
<li>Our outlook as of last week (3/3/26 Compass) remains near-term neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).</li>
<li>However, signs point to a local low being made yesterday after indexes went from heavily red, to firmly green as Trump signaled the war with Iran is nearing an end</li>
<li>Russell 2000 (IWM) held at 4+year base support $245 , S&amp;P 500 futures(ES) held at its 200-day MA and Nasdaq 100 futures(NQ) held above 6-month support at 24,000 late-Sunday night</li>
</ul>


Our outlook as of last week (3/3/26 Compass) remains near-term neutral on the S&amp;P 500 (SPX), after being bullish for all but one week since 4/22/25 (we went neutral 11/19/25-11/25/25).
However, signs point to a local low being made yesterday after indexes went from heavily red, to firmly green as Trump signaled the war with Iran is nearing an end
Russell 2000 (IWM) held at 4+year base support $245 , S&amp;P 500 futures(ES) held at its 200-day MA and Nasdaq 100 futures(NQ) held above 6-month support at 24,000 late-Sunday night


Local Low in Place; Russell 2000 (IWM) Holds at $245; Semiconductors (SMH) Hold at $375

United States

REX American Resources Corporation is invested in ethanol production entities. The Company produces ethanol, and dried and modified distillers grains, as well as leases real estate properties.

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Rex American Resources (REX US)

Primer: Rex American Resources (REX US) - Apr 2026

REX is a highly efficient ethanol producer with a strong operational track record, evidenced by its high resilience and growth scores and...

αSK

Staying Bullish Despite Near-Term Pullback Potential; Buy Pullbacks

Buying a pullback; SPX testing 6400-6410 now, but QQQ and IWM are violating short-term supports at $572 and $226. This makes us believe we could...

Vermilion Research

Downgrading Outlook to Bearish; Stay Defensive; $SPX Rally a Selling Opportunity?

Downgrading Outlook to Bearish; Stay Defensive; Latest $SPX Rally Likely to Roll Over Here at 6480-6520 or 200-day MA resistance

Vermilion Research

At a Crossroads; Downgrading Transportation; Significant Downside Air Pocket Risk

Significant Downside Air Pocket Risk; Downgrading Transportation $IYT $XTN to Market Weight; Crucial supports/downside triggers: $245 on $IWM, the...

Vermilion Research

Local Low in Place; Russell 2000 (IWM) Holds at $245; Semiconductors (SMH) Hold at $375

Local Low in Place $SPX; Russell 2000 $IWM Holds at $245; Semiconductors $SMH Hold at $365-$375; Cannot be too Bearish if these supports hold....

Vermilion Research

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