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Watch for Continued Losses in Shares of Rayonier Adv (RYAM)

By David Diaz

Shares of Rayonier Adv (NYSE:RYAM) traded at a new 52-week low today of $6.16. Approximately 103,000 shares have changed hands today, as compared to an average 30-day volume of 1.2 million shares.

Rayonier Advanced Materials Inc operates as a performance fibers business. The company produces specialty cellulose fibers using proprietary cellulose chemistry knowledge and manufacturing processes.

Rayonier Adv share prices have moved between a 52-week high of $22.07 and the current low of $6.16 and are currently at $6.16 per share. The 200-day and 50-day moving averages have moved 1.58% lower and 4.47% lower over the past week, respectively.

Rayonier Adv (NYSE:RYAM) has potential upside of 318.0% based on a current price of $6.16 and analysts' consensus price target of $25.75. The stock should run into initial resistance at its 50-day moving average (MA) of $10.02 and subsequent resistance at its 200-day MA of $13.35.

SmarTrend recommended that its subscribers protect gains by selling shares of Rayonier Adv on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $10.89. Since that call, shares of Rayonier Adv have fallen 42.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows rayonier adv

Ticker(s): RYAM