Recent 52-Week High Exceeded in Shares of Innospec (IOSP)
Innospec (NASDAQ:IOSP) traded today at a new 52-week high of $37.56. So far today approximately 56,000 shares have been exchanged, as compared to an average 30-day volume of 128,000 shares.
In the past 52 weeks, Innospec share prices have been bracketed by a low of $20.36 and a high of $37.56 and are now at $36.91, 81% above that low price. The 200-day and 50-day moving averages have moved 0.31% higher and 0.63% higher over the past week, respectively.
Innospec, Inc. manufactures fuel specialties, performance chemicals, and octane additives. The Company produces fuel specialties that improve efficiency, boost engine performance, and reduce emissions; chemicals used in personal care products, household detergents, and by the plastics, paper, metal plating and oil industries; and tetra ethyl lead octane additive.
Potential upside of 7.0% exists for Innospec, based on a current level of $36.91 and analysts' average consensus price target of $39.50. The stock should find initial support at its 50-day moving average (MA) of $32.33 and further support at its 200-day MA of $30.94.
SmarTrend recommended that subscribers consider buying shares of Innospec on December 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $32.20. Since that recommendation, shares of Innospec have risen 14.5%. We continue to monitor IOSP for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: 52 week high/lows innospec