Braskem S.A. (BAK) : Traders are bullish on Braskem S.A. (BAK) as it has outperformed the S&P 500 by a wide margin of 14.75% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.26%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 6.23% in the last 1 week, and is up 15.19% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Braskem S.A. is up 18.49% in the last 3-month period. Year-to-Date the stock performance stands at 6.62%. The stock has recorded a 20-day Moving Average of 9.3% and the 50-Day Moving Average is 15.15%.
Braskem S.A. (NYSE:BAK): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $13.25 and $13.06 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $13.76. The buying momentum continued till the end and the stock did not give up its gains. It closed at $13.65, notching a gain of 2.48% for the day. The total traded volume was 393,787 . The stock had closed at $13.32 on the previous day.
Braskem S.A. (Braskem) is a producer of thermoplastic resins. The Company has 36 industrial plants, of which 29 are in Brazil, five in the United States and two in Europe. These units produce thermoplastic resins: polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC), as well as basic petrochemicals. Braskems business operations consist of four production segments and one distribution segment: Basic Petrochemicals Unit, Polyolefins, Vinyls, United States and Europe, and Chemical distribution. Additionally, Braskem is also engaged in the import and export of chemicals, petrochemicals and fuels, the production, supply and sale of utilities such as steam, water, compressed air, industrial gases, as well as the provision of industrial services and the production, supply and sale of electric energy for its own use and use by other companies. Braskem also invests in other companies, either as a partner or as shareholder.