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Shares of Molycorp Have Fallen Below Previous 52-Week Low

Published on Wed, 06/25/2014 - 14:30
By Adrienne Chilton

Shares of Molycorp (NYSE:MCP) traded today at $2.39, breaking its 52-week low. This new low was reached on below average trading volume as 3.6 million shares traded hands, while the average 30-day volume is approximately 5.3 million shares.

Molycorp, Inc. produces rare earth products, including oxides, metals, alloys and magnets for a variety of applications including clean energy technologies, technology, and defense applications.

Molycorp (NYSE:MCP) has potential upside of 60.8% based on a current price of $2.55 and analysts' consensus price target of $4.10. The stock should find initial resistance at its 50-day moving average (MA) of $3.49 and further resistance at its 200-day MA of $4.90.

In the past 52 weeks, Molycorp share prices have been bracketed by a current low of $2.39 and a high of $8.06 and are now at $2.55. Over the last five market days, the 200-day moving average (MA) has gone down 1.1% while the 50-day MA has declined 3.5%.

By Adrienne Chilton
achilton@fnno.com

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