Is This Stock a Screaming Buy: Sinopec Shanghai Petrochemical Co. Ltd. (NYSE:SHI)

Equity Research firms currently have a positive stance on shares of Sinopec Shanghai Petrochemical Co. Ltd. (NYSE:SHI). The majority of analysts covering the equity have a consensus Strong Buy recommendation on the stock, yielding a score of 1.00. This is based on the research brokerage reports taken into consideration by Thomson Reuters. Those same analysts are projecting that the stock will reach $58.36 on a short term basis.

At the time of writing, the stock was trading at $50.89. This represents a change from the opening price of -0.70%. In terms of performance, year to date, the stock is 33.29%. The monthly stock performance comes in at -3.32%. For the quarter, shares are performing at 6.81%. Weekly performance analysis shows the equity at 0.29%.

In taking a look at technical levels, shares are trading -0.22% away from the 50 day simple moving average and 11.05% away from the 200 day simple moving average. Based on a recent bid, the stock is trading -5.22% away from it’s 52- week high and 53.21% away from its 52 week low. After the recent moves, investors may also look to see if the stock has entered oversold or overbought territory and could be ripe for a bounce. As of writing, Sinopec Shanghai Petrochemical Co. Ltd.’s RSI stands at 49.00. In looking at volatility levels, the shares saw weekly volatility of 0.90% and 1.01% over the past month.

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