Ashland Crosses Above its 10-day MA (ASH)

Published on Mon, 03/16/2015 - 12:34
By Peter Chu in Moving average crossovers, ash, ashland, moving crosses, nyse:ash

Ashland (NYSE:ASH) crossed over its 10-day moving average of $126.33 on a volume of 238K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

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.

Potential upside of 8.4% exists for Ashland, based on a current level of $126.82 and analysts' average consensus price target of $137.50. The stock should discover initial support at its 50-day moving average (MA) of $123.02 and subsequent support at its 200-day MA of $111.67.

Ashland share prices have moved between a 52-week high of $130.66 and a 52-week low of $93.62 and are now trading 35% above that low price at $126.82 per share. The 200-day and 50-day moving averages have moved 0.50% higher and 0.39% higher over the past week, respectively.

By Peter Chu
pchu@fnno.com

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