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Tuesday, May 22, 2018

China Sunsine - Tailwinds May Be Fading!

China SunSine -  One of the best performing stock in the last 12 months rising from 0.60 to 1.63 on the back of strong demand from the automobile industry for its rubber acelerator. This blog believes that with rising oil prices the headwinds may be growing. Over the last 3 years cheap oil has rejuvenated its competitive position, leading to peak margin amid a healthy macro economic environment.  Raw material cost accounted for 80-85% of the cost of sales. Key raw material are made from crude oil by product such as benzene. Higher cost of raw material will eat into  profit. Generally . selling prices and cost of sales per tonne tracks the crude oil subject to a lag of one month. On the chart a break below support of 1.47 and 1.44 will trigger a downward slide down to 1.37 and 1.26.
All posts and charts are for educational and illustration purposes only

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