Buy Methanex Corporation | NASDAQ MEOH | Naranj Capital

 BUY   Methanex Corporation (NASDAQ: MEOH)

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.

Our recommendations are authentic and transparent. Find this recommendation posted in Tradingview and Social Media. Be assured such records are permanent and irreversible.

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

MEOH-RELATIVE STRENGTH

Relative Performance - Last 1 Year

Methanex Corporation —     NASDAQ —

Methanex Corporation (NASDAQ: MEOH) - DAILY TECHNICAL ANALYSIS

Methanex Corporation (NASDAQ: MEOH) - Technical Analysis (Daily)
  • 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

MEOH-RSI
Methanex Corporation (NASDAQ: MEOH) - RSI
  • Current RSI of this stock is 67.93, which indicates the strength of buyers.

Methanex Corporation (NASDAQ: MEOH) - MACD

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

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 stock trading advice in USA, Methanex Corporation stock price target will be USD 55 – USD 56 in the next 12-14 trading sessions.

Methanex Corporation (NASDAQ: MEOH) TRADINGVIEW POSITION UPDATE

Follow Methanex Corporation (NASDAQ: MEOH) TRADING ADVICE On Social Media

MONEY MANAGEMENT AND TRADING RULES

1)  It’s advisable to enter/exit in the recommended range.
2)  Strictly follow the StopLoss as mentioned. Honour it.
3)  Use trailing StopLoss to retain profits.
4)  Diversify trading capital into our other trading recommendations.
5)  Risk only the money what you can afford to lose. Hedge accordingly.

Advisor / ANALYST SUMMARY

The stock trading advice is prepared by the Naranj Capital team under the guidance of Arijit Banerjee, CMT, CFTe. Arijit is a veteran trader and an active investor having in-depth knowledge of financial market research, advanced technical analysis, market cycle, algorithmic trading, and portfolio management. He is a Chartered Market Technician (CMT) accredited by CMT Association USA, the global authority of Technical Analysis and also has been honored as a Certified Financial Technician (CFTe) by the International Federation of Technical Analysts, USA.

Disclosure

The views expressed herein are based solely on information available publicly/internal data/other sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to accuracy. The recommendations provided herein is solely for informational purposes and are not intended to be and must not be taken alone as the basis for an investment/trading decision. Trading and investing are subject to market risk and the securities discussed and opinions expressed herein may not be suitable for all investors. To read the full disclosure, please click here.

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