Rayonier Advanced Materials (RYAM) : Traders are bullish on Rayonier Advanced Materials (RYAM) as it has outperformed the S&P 500 by a wide margin of 9.91% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 6.61%, 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 6.79% in the last 1 week, and is up 9.32% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 13.2% and the 50-Day Moving Average is 6.9%.The 200 Day SMA reached 23.22%
Rayonier Advanced Materials (NYSE:RYAM): After opening at $13, the stock dipped to an intraday low of $13 on Friday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $13.53 and the buying power remained strong till the end. The stock closed at $13.37 for the day, a gain of 2.77% for the day session. The total traded volume was 809,190. The stocks close on the previous trading day was $13.37.
Rayonier Advanced Materials (RYAM) stock is expected to deviate a maximum of $6.43 from the average target price of $14.67 for the short term period. 3 Street Experts have initiated coverage on the stock with the most promising target being $22 and the most muted being $10.
Rayonier Advanced Materials Inc. (Rayonier Advanced Materials) is primarily engaged in producing cellulose specialties. The Companys product lines include cellulose specialties and commodity products. Cellulose specialties are polymers, used as raw materials to manufacture consumer-oriented products, such as cigarette filters, liquid crystal displays, impact-resistant plastics, thickeners for food products, pharmaceuticals, cosmetics, high-tenacity rayon yarn for tires and industrial hoses, food casings, paints and lacquers. Commodity products include commodity viscose and absorbent materials. Commodity products include commodity viscose and absorbent materials.