Can The Uptrend Continue for China Petroleum & Chemical (SNP)?

Investors certainly have to be happy with China Petroleum & Chemical Corporation SNP and its short term performance. After all, the stock has jumped by 18.4% in the past 4 weeks, and it is also above its 20 Day Simple Moving Average as well. This is certainly a good trend, but investors are probably asking themselves, can this positive trend continue for SNP?

While we can never know for sure, it is pretty encouraging that estimates for SNP have moved higher in the past few weeks, meaning that analyst sentiment is moving in the right way. Plus, the stock actually has a Zacks Rank #2 (Buy), so the recent move higher for this spotlighted company may definitely continue over the next few weeks. You can see the complete list of today’s Zacks #1 Rank stocks here.

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