The small cal Luxembourg based Specialty Chemicals firm, registered a 20% drop in its share price. After reaching above EUR 26 a share, which was the yearly high, stocks formed a multiple high and since early June dropped with $ 5. The price has just tested the 200 day SMA at EUR 21.
Generally speaking, OEC is in an up trend since October 2022. It doubled in value until a few days ago. This is 100% return, so naturally some of those early buyers started cashing out their profits. Both the 20 and 50 day SMA are above the 200 day SMA, so this 20% price reduction can still be classed as a correction, rather than a trend change.

The financials look attractive. P/B is 2.77 and P/E is 11. With a small market cap of $ 1.23B, OEC’s sales are $ 2.05B and Income is $ 116M. This is a comfortable 5.7% Net Profit! The firm has a strong 1600 and it is based in a wealthy and secure region in the heart of Europe. To see our anticipated price swing direction and entry level, please visit out Go Premium Section.