Analyst Rating In Review: Braskem Bid Up 6.1% Since Upgraded 7 Days Ago (BAK)
HSBC upgraded Braskem (NYSE:BAK) from Hold to Buy a week ago. Braskem shares are selling at $17.35, 6.1% above the $16.35 price point of one week ago.
Braskem (NYSE:BAK) defies analysts with a current price ($17.35) 25.3% above its average consensus price target of $12.96. The stock should discover initial support at its 50-day moving average (MA) of $13.55 and subsequent support at its 200-day MA of $11.40.
SmarTrend recommended that subscribers consider buying shares of Braskem on August 5th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $13.01. Since that recommendation, shares of Braskem have risen 32.7%. We continue to monitor BAK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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