Opinions
Hap (Robert) Sneddon FCSI
Sinopec Shanghai Petrochemical
SHI-N
COMMENT
Jun 06, 2013
$35.570
Stock price when the opinion was issued
INDUSTRIAL PRODUCTS
It's the ideal tool to help you make quicker, more informed decisions for
managing and tracking your investments.
You might be interested:
COMMENT
She owns the parent company. A good business. They are losing money on the production front because of where oil prices are, and are actually cutting a lot of capital spending to try and maintain as much as they can of free cash flow. This is more of a dividend play. A good, longer-term hold.
INDUSTRIAL PRODUCTS
Chart shows a bottom at around $25 in 2012 and it now looks like it is trying to form a modified “cup and handle” and if it got above the $44 level, that would sort of be an All Clear sign to get up to the old high of around $63. Currently there is a convergence of moving averages at around its current level which is a significant area. Moving averages are starting to move up. Everything looks pretty reasonable although it has a lower volume, which is a sticky wicket. You could Buy with a Stop at around 6%-7% below the current price.