Shares of Braskem Rise to a New 52-Week High
Braskem (NYSE:BAK) traded today at a new 52-week high of $17.45. This new high was reached on below average trading volume as 80,000 shares traded hands, while the average 30-day volume is approximately 535,000 shares.
Braskem share prices have moved between a 52-week high of $17.45 and a 52-week low of $6.40 and are now trading 170% above that low price at $17.28 per share. Over the past week, the 200-day moving average (MA) has gone up 1.0% while the 50-day MA has advanced 0.6%.
Braskem S.A. produces petrochemicals and generates electricity. The Company produces ethylene, propylene, benzene, toluene, xylenes, butadiene, butene, isoprene, dicyclopentediene, MTBE, caprolactam, ammonium sulfate, cyclohexene, polyethylene theraphtalat, polyethylene, and polyvinyl chloride (PVC).
Braskem (NYSE:BAK) defies analysts with a current price ($17.28) 25.0% above its average consensus price target of $12.96. Braskem shares have support at the 50-day moving average (MA) of $13.55 and additional support at the 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.
Keywords: 52 week high/lows Braskem