Cosan: New 52-Week Low Set Today (CZZ)
Shares of Cosan (NYSE:CZZ) traded today at $2.59, breaking its 52-week low. This new low was reached on below average trading volume as 1.1 million shares traded hands, while the average 30-day volume is approximately 1.8 million shares.
In the past 52 weeks, shares of Cosan have traded between the current low of $2.59 and a high of $11.90 and are now at $2.77. Over the past week, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has declined 3.9%.
Cosan Limited produces ethanol and sugar. The Company operates mills, refineries, port facilities and numerous warehouses throughout Brazil.
Potential upside of 292.9% exists for Cosan, based on a current level of $2.77 and analysts' average consensus price target of $10.88. The stock should run into initial resistance at its 50-day moving average (MA) of $3.99 and subsequent resistance at its 200-day MA of $6.20.
SmarTrend recommended that its subscribers protect gains by selling shares of Cosan on March 5th, 2015 by issuing a Downtrend alert when the shares were trading at $6.93. Since that call, shares of Cosan have fallen 60.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: 52 week high/lows Cosan