Long Position on MEOH @ $51.90 on 3/7/2022 (Fundamentals)

Methanex Corporation (MEOH) produces and supplies methanol in North America, the Asia Pacific, Europe, and South America. 

The company also purchases methanol produced by others under methanol offtake contracts and on the spot market.

In addition, it owns and leases storage and terminal facilities.

The company owns and manages a fleet of approximately 30 ocean-going vessels. It serves chemical and petrochemical producers. The Company reports its quarterly results on April 27th.  On January 26th, Methanex Cp (MEOH) reported Quarter December 2021 earnings of $2.43 per share on revenue of $1.3 billion. The consensus earnings estimate was $2.56 per share on revenue of $1.3 billion. Revenue grew 54.4% on a year-over-year basis.

Shares are heading higher in an upward trading channel. Higher share prices are expected for this stock.

Entry Point: $51.90

Trading Range: $29.61 - $53.30

Stop Loss: $49.25

Target Price: $57.10

Updates

3/22/2022 11:57:18 AM

closed at $55.70

Position closed on 3/22/2022 at price of $55.70 with a 7.32% gain in 15 days.

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