Recent 52-Week High Exceeded in Shares of Innospec (IOSP)
Innospec (NASDAQ:IOSP) traded today at a new 52-week high of $54.74. So far today approximately 75,000 shares have been exchanged, as compared to an average 30-day volume of 225,000 shares.
Based on a current price of $53.23, Innospec is currently 4.2% above its average consensus analyst price target of $51.00. The stock should find initial support at its 50-day moving average (MA) of $47.12 and further support at its 200-day MA of $44.64.
In the past 52 weeks, shares of Innospec have traded between a low of $28.09 and a high of $54.74 and are now at $53.23, which is 89% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 1.2%.
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.
SmarTrend recommended that subscribers consider buying shares of Innospec on August 12th, 2015 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $45.42. Since that recommendation, shares of Innospec have risen 17.1%. 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