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Downgrade Alert for China Petroleum & Chemical (SNP)
[April 15, 2013]

Downgrade Alert for China Petroleum & Chemical (SNP)

Apr 15, 2013 (SmarTrend(R) Upgrades/Downgrades via COMTEX) -- China Petroleum & Chemical (NYSE:SNP) was downgraded from Hold to Underperform at Jefferies today. The stock closed yesterday at $113.44 on volume of 40,000 shares, below average daily volume of 70,000. 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.

In the past 52 weeks, China Petroleum & Chemical share prices have been bracketed by a low of $82.51 and a high of $122.81 and closed yesterday at $113.44, 37% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.6% while the 50-day MA has declined 0.6%.

China Petroleum & Chemical has overhead space with shares priced $113.44, or 9.6% below the average consensus analyst price target of $125.46. China Petroleum & Chemical shares should encounter resistance at the 50-day moving average (MA) of $114.08 and support at its 200-day MA of $104.14.


SmarTrend is tracking the current trend status for China Petroleum & Chemical and will alert subscribers who have SNP in their portfolio or watchlist when shares have changed trend direction.

Write to Chip Brian at cbrian@mysmartrend.com --------------------------------------------------------------------------------------------- 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

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