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Stock Investors Sell Off Shares of Ashland, Down 8.1%

Published on Tue, 01/29/2013 - 11:12
By Peter Chu

One of today's notable stocks in decline is Ashland (NYSE:ASH), down 8.1% to $78.57. The S&P is currently trading fractionally higher to 1,502 and the Dow Jones Industrial Average is trading 0.2% higher to 13,917.

Operating in over 100 countries, Ashland Inc. provides the specialty chemicals, technologies and insights to help customers create new and improved products for today and sustainable solutions for tomorrow. Ashland's chemistry is at work every day in a wide variety of markets and applications, including architectural coatings, automotive, construction, energy, personal care, pharmaceutical, tissue and towel, and water treatment.

There is potential upside of 18.8% for shares of Ashland based on a current price of $78.57 and an average consensus analyst price target of $93.33. Ashland shares have support at the 50-day moving average (MA) of $78.25 and additional support at the 200-day MA of $71.39.

Ashland share prices have moved between a 52-week high of $86.96 and a 52-week low of $58.54 and are now trading 34% above that low price at $78.57 per share. The 200-day and 50-day moving averages have moved 0.55% higher and 1.07% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com