Investamate

Elementis - A break above 167.9p and it will be in its element.

Long
LSE:ELM   ELEMENTIS PLC ORD 5P
Buy Elementis (ELM.L)

Elementis plc is a United Kingdom-based specialty chemicals company. The Company operates through two segments: Specialty Products and Chromium. The Specialty Products segment provides functional additives to the coatings, personal care and energy markets.

Market Cap: £895Million

The bearish momentum in Elementis appears to have slowed in recent weeks. It’s an early call, but I think a bottom pattern could be about to complete. The shares posted an impressive turnaround from the lows in yesterday's session to form a large hammer candle. A break of resistance at 167.9p should get things going on the upside. The medium-term target is up at 209p.

Stop: 139.6p
Target 1: 175p
Target 2: 198p
Target 3: 209p


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