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Upgrade Alert for Methanex (MEOH)
[January 25, 2013]

Upgrade Alert for Methanex (MEOH)

Jan 25, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- Methanex (NASDAQ:MEOH) was upgraded from Market Perform to Outperform at Raymond James today. The stock closed yesterday at $34.76 on volume of 862,000 shares, above average daily volume of 207,000. Methanex Corporation produces and markets methanol. The Company's product is used to produce formaldehyde, acetic acid and a variety of other chemical intermediates. Methanol is also used as an additive in gasoline and is used in fuel cell applications.

Methanex (NASDAQ:MEOH) has potential upside of 3.7% based on a current price of $34.77 and analysts' consensus price target of $36.06. The stock should discover initial support at its 50-day moving average (MA) of $31.41 and subsequent support at its 200-day MA of $29.88.

Over the past year, Methanex has traded in a range of $19.50 to $35.52 and closed yesterday at $34.77, 78% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

SmarTrend recommended that subscribers consider buying shares of Methanex on December 3rd, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $30.45. Since that recommendation, shares of Methanex have risen 14.2%. We continue to monitor MEOH for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Write to Chip Brian at --------------------------------------------------------------------------------------------- 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 Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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