• Return to Headlines

Watch for Continued Losses in Shares of Lyondellbasell-A (LYB)

By Nick Russo

Lyondellbasell-A (NYSE:LYB) traded today at a new 52-week low of $71.38. This new low was reached on below average trading volume as 262,000 shares traded hands, while the average 30-day volume is approximately 2.8 million shares.

LyondellBasell Industries N.V. operates as a chemical company worldwide. The company operates in six segments: Olefins and PolyolefinsÂ?Americas; Olefins and PolyolefinsÂ?Europe, Asia, International; Intermediates and Derivatives; Advanced Polymer Solutions; Refining; and Technology. It produces and markets olefins and co-products; polyethylene products, which consist of high density polyethylene, low density polyethylene, and linear low density polyethylene; and polypropylene (PP) products, such as PP homopolymers and copolymers.

Lyondellbasell-A share prices have moved between a 52-week high of $116.63 and the current low of $71.38 and are currently at $71.38 per share. The 200-day and 50-day moving averages have moved 0.41% lower and 0.96% lower over the past week, respectively.

Lyondellbasell-A has overhead space with shares priced $71.38, or 39.3% below the average consensus analyst price target of $117.65. Lyondellbasell-A shares should first meet resistance at the 50-day moving average (MA) of $82.46 and find additional resistance at the 200-day MA of $85.50.

SmarTrend recommended that its subscribers protect gains by selling shares of Lyondellbasell-A on August 2nd, 2019 by issuing a Downtrend alert when the shares were trading at $78.06. Since that call, shares of Lyondellbasell-A have fallen 7.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows lyondellbasell-a

Ticker(s): LYB