Credit Suisse's Rating Change Only Had Short-term Impact, Alon USA Energy Down 9.5% (ALJ)
Credit Suisse upgraded Alon USA Energy (NYSE:ALJ) from Neutral to Outperform a week ago. Alon USA Energy stocks closed at $8.21, a 9.5% loss over the course of one week.
Potential upside of 139.5% exists for Alon USA Energy, based on a current level of $8.21 and analysts' average consensus price target of $19.67. Alon USA Energy shares should first meet resistance at the 50-day moving average (MA) of $10.45 and find additional resistance at the 200-day MA of $14.83.
SmarTrend recommended that subscribers consider buying shares of Alon USA Energy on August 4th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $7.33. Since that recommendation, shares of Alon USA Energy have risen 15.1%. We continue to monitor ALJ for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst reflections alon usa energy