Up for discussion today is The Chemours Co. (ticker: CC) a diversified chemicals company in the materials sector listed on the NYSE. The company currently has either a Buy or Strong Buy rating by several research firms, and I'll be looking to add the stock to my portfolio if fundamental and technical conditions turn favorable.
Fundamentals: CC has reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. Furthermore, the company has shown a pattern of positive earnings per share growth over the past two years. The company has a projected Q1 earnings per share growth of 64% and 41% for the fiscal year. Last earnings per share surprise came in at 25% and the company has consistently beaten earnings expectations.
Technicals: Like most individual stocks in the market, CC has been following the direction of the overall market and is currently trending downwards. In order for me to enter into a trade I need to see definitive price action trending upwards. ADX is flat, well below 20 @ 9.31, 20-period RSI is below 50 and the MACD is printing divergence below the zero line. Once (and IF) price action breaks above the 20-period EMA and if the current +DI/-DI cross over holds I'll be looking at putting in a limit order.
Fundamentals: CC has reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. Furthermore, the company has shown a pattern of positive earnings per share growth over the past two years. The company has a projected Q1 earnings per share growth of 64% and 41% for the fiscal year. Last earnings per share surprise came in at 25% and the company has consistently beaten earnings expectations.
Technicals: Like most individual stocks in the market, CC has been following the direction of the overall market and is currently trending downwards. In order for me to enter into a trade I need to see definitive price action trending upwards. ADX is flat, well below 20 @ 9.31, 20-period RSI is below 50 and the MACD is printing divergence below the zero line. Once (and IF) price action breaks above the 20-period EMA and if the current +DI/-DI cross over holds I'll be looking at putting in a limit order.
Trade active:
In LONG at $49.83 w/target at $54.00