[May 23, 2012] Downtrend Call Working As China Petroleum & Chemical Stock Falls 19.1% (SNP) Tweet May 23, 2012 (SmarTrend(R) Spotlight via COMTEX) -- SmarTrend identified a Downtrend for China Petroleum & Chemical (NYSE:SNP) on February 21st, 2012 at $112.25. In approximately 3 months, China Petroleum & Chemical has returned 19.08% as of today's recent price of $90.83. In the past 52 weeks, shares of China Petroleum & Chemical have traded between a low of $82.50 and a high of $125.36 and are now at $90.83, which is 10% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.3%. China Petroleum and Chemical Corporation (Sinopec) explores for and produces crude oil and natural gas in China. The Company also owns refineries that make petroleum and petrochemical products such as gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and chemical fertilizers. In addition, Sinopec trades petrochemical products. SmarTrend will continue to scan these moving averages and a number of other proprietary indicators for any changes in momentum for shares of China Petroleum & Chemical. Log in and add China Petroleum & Chemical (SNP) to your watchlist today so you can receive a real-time alert when the shares are about to change trend. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup [ Back To TMCnet.com's Homepage ]