Methanex Corporation (NASDAQ: MEOH) STOCK RECOMMENDATION
| Idea | BUY |
| Buy Range | 51.5 – 52.5 |
| Target | 55 – 56 |
| StopLoss* | below 50 |
| Duration | 12-14 Trading Days |
| Potential Returns | 5% – 7% |
| Idea | Buy Range | Target | StopLoss* | Duration | Potential Returns |
| BUY | 51.5 – 52.5 | 55 – 56 | below 50 | 12-14 Trading Days | 5% – 7% |
* Once the first target hit, reset the StopLoss at your buying price.
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Methanex Corporation (NASDAQ: MEOH) STOCK OVERVIEW
Methanex was founded in 1968 in Vancouver, Canada, and has since grown into a global leader in the methanol industry. The company operates production facilities in multiple countries, including Canada, the United States, New Zealand, Chile, and Trinidad and Tobago. Methanex also has a significant presence in marketing and distribution, serving customers in regions around the world.
Methanex plays a crucial role in supplying methanol to various industries, driving innovation and efficiency in its production processes. The company has a strong commitment to sustainability and operates with a focus on environmental responsibility and corporate social responsibility.
| Stock Data | |
| NASDAQ Symbol | MEOH |
| Sectoral Index | Chemical Industries |
| 52 Weeks High | 51.42 |
| 52 Weeks Low | 38.18 |
Methanex Corporation (NASDAQ: MEOH) - RELATIVE STRENGTH
Relative Performance - Last 1 Year
Methanex Corporation — NASDAQ —
Methanex Corporation (NASDAQ: MEOH) - DAILY TECHNICAL ANALYSIS
- The price has been consolidating for a long period.
- In this journey, price recently has formed a Cup & Handle pattern to indicate that the trend will be continued.
- With a fresh breakout the price is currently trading at the 52 week high.
- As the volume is also increasing, we can expect a upmove from the price.
Methanex Corporation (NASDAQ: MEOH) - RSI
- Current RSI of this stock is 67.93, which indicates the strength of buyers.
Methanex Corporation (NASDAQ: MEOH) - MACD
MACD line has just crossed the signal line from the below and a positive histogram chart is forming. This can be considered as a bullish signal.
Methanex Corporation (NASDAQ: MEOH) - ADX & DI
- Increasing ADX value above 20, indicated the strength of the trend, thereby uptrending ADX confirms the bullish or bearish supportive decisions. Along with the rising ADX, and the +DI is above (or crossing) -DI, indicates the long trades should be favoured.
CONCLUSION - Methanex Corporation (NASDAQ: MEOH) STOCK PRICE FORECAST
Based on our short term stock trading advisory services in USA, Methanex Corporation stock price target will be USD 55 – USD 56 in the next 12-14 trading sessions.
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