small-cap

Book Profit on this NYSE-Listed Chemical Stock: AdvanSix Inc.

Feb 06, 2023 | Team Kalkine

Read Time :5 min

Book Profit on this NYSE-Listed Chemical Stock: AdvanSix Inc.

Company Overview: AdvanSix Inc. is a manufacturer of Nylon 6, a polymer resin which is a synthetic material used by its customers to produce fibers, filaments, engineered plastics and films that, in turn, are used in such end-products as such as building and construction, fertilizers, plastics, solvents, packaging, paints, coatings, adhesives and electronics.

As per our previous report published on ASIX on 22^nd June 2022, Kalkine provided a ‘Speculative Buy’ stance on the stock at USD 32.80 based on “upside indicated by valuation and key risks associated’, and the stock price has now moved by ~33.72% since then and moved above R1 and R2 mentioned in the previous report.

Noted below are the details of support and resistance levels provided in our previous report:

ASIX’s Daily Chart

ASIX’s Daily Price Chart. Source: REFINITIV, Analysis by Kalkine Group

Considering the target level attainment, resistance around the current trading levels, macro-economic uncertainties hovering around the broader market on the back of rising inflationary pressure and increasing cost of capital, a ‘Sell’ rating is assigned to “ASIX” stock at the closing market price of USD 43.86 (as of February 03, 2023).

Note: This report may be updated with details around fundamental and technical analysis, price/ chart in due course, as appropriate

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is February 03, 2023. The reference data in this report has been partly sourced from REFINITIV.

Note 3: Investment decisions should be made depending on an individual's appetite for upside potential, risks, holding duration, and any previous holdings. An 'Exit' from the stock can be considered if the Target Price mentioned as per the Valuation and or the technical levels provided has been achieved and is subject to the factors discussed above.

Note 4: Target Price refers to a price level that the stock is expected to reach as per the relative valuation method and or technical analysis taking into consideration both short-term and long-term scenarios.

Note 5: ‘Kalkine reports are prepared based on the stock prices captured either from the New York Stock Exchange (NYSE), NASDAQ Capital Markets (NASDAQ), and or REFINITIV. Typically, all sources (NYSE, NASDAQ, or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.’

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