Methanex Corporation (MEOH) : Traders are bullish on Methanex Corporation (MEOH) as it has outperformed the S&P 500 by a wide margin of 1.36% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.67%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 2.11% in the last 1 week, and is up 3.89% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
Methanex Corporation (NASDAQ:MEOH): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $27.95 and $27.61 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $28.68. The buying momentum continued till the end and the stock did not give up its gains. It closed at $28.61, notching a gain of 2.51% for the day. The total traded volume was 538,387 . The stock had closed at $27.91 on the previous day.
The stock has recorded a 20-day Moving Average of 1.08% and the 50-Day Moving Average is 4.47%. Methanex Corporation has dropped 7.93% during the last 3-month period . Year-to-Date the stock performance stands at -11.88%.
Methanex Corporation (MEOH) : The most positive equity analysts on Methanex Corporation (MEOH) expects the shares to touch $42, whereas, the least positive believes that the stock will trade at $34 in the short term. The company is covered by 6 Wall Street Brokerage Firms. The average price target for shares are $38.08 with an expected fluctuation of $3.2 from the mean.
Methanex Corporation is a Canada-based producer and supplier of methanol to international markets in Asia Pacific, North America, Europe and South America. The Company operates three production facilities in New Zealand, which supply methanol primarily to customers in Asia Pacific. Its two plants in Trinidad, Titan and Atlas, supply methanol markets in North America, Europe, Asia Pacific and South America. Its Geismar 1 facility in Louisiana supplies to customers in the United States. The Company through a joint venture facility in Egypt, located on the Mediterranean Sea, supplies methanol markets in Europe and Asia Pacific. Its plant in Medicine Hat, Alberta, supplies methanol to customers in North America. The Punta Arenas production complex in southern Chile supplies to customers in South America.