Methanex Corporation (MEOH) Shares are Up 16.03%

Methanex Corporation (MEOH) : Traders are bullish on Methanex Corporation (MEOH) as it has outperformed the S&P 500 by a wide margin of 13.45% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 15.84%, 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 16.03% in the last 1 week, and is up 12.84% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

The stock has recorded a 20-day Moving Average of 15.28% and the 50-Day Moving Average is 21.31%.The 200 Day SMA reached 18.75%

Methanex

Methanex Corporation (NASDAQ:MEOH): The stock opened in the green at $36.15 on Friday, but the bulls found it difficult to push the prices higher. The stock reached a high of $36.54 and a low of $35.63 for the day. The stock did not find buyers even at the lows and closed at $35.68 recording a loss of -0.22%. 1,169,576 shares exchanged hands during the trading day. The stock had closed at $35.68 in the previous days trading.

Methanex Corporation (MEOH) has been rated by 6 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $42 and the lowest price target forecast is $34. The average forecast of all the analysts is $38.08 and the expected standard deviation is $3.2.

Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific, North America, Europe and South America. The Company operates three production facilities in New Zealand, which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad, Titan and Atlas, supply methanol markets in North America, Europe, Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt, located on the Mediterranean Sea, supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat, Alberta, supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.