Cytec Industries Inc : Be ready if crossing happens
Entry price | Target | Stop-loss | Potential |
---|
US$61.55 |
US$65 |
US$58.6 |
+5.61% |
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Cytec Industries is a global specialty chemicals and materials producer focused on developing, manufacturing and selling value-added products. Their products serve a wide range of markets including aerospace, adhesives, automotive and industrial coatings, inks, mining and plastics.
On January 31th, the company presented its annual results with a significant turnover growth at 3.1 billion dollars against 2.75 billion on 2010’s exercise. Net results are satisfying too with 208 million dollars against 172 million for fiscal 2010. The margin protection policy engaged on several branchs enabled margin increase and cost rationalization.
Technically the stock shows a global bullish trend on the past 3 months with an increase of 30%. Contact with USD 62 short-term resistance engaged a consolidation on this resistance area. Moving averages are well-oriented and the 20-days curve may support the trend and push it out of this area.
Investors may get into the share as soon as resistance will be crossed, in order to aim at USD 70 and then the highest of year 2007 around USD 75. A stop loss will be engaged at USD 58.6 to avoid reversal.
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