Croda International saw a small price boost in yesterday’s trading session, rising by 0.77 per cent, and reversing the bearish trend of the previous two trading sessions. Today, despite opening the market with a huge gap-down¸the early hours of trading has shown signs that we might see Croda International share price continuing to rise and possibly extending yesterday’s bullish trend.
Croda Company Profile
Croda International is a British speciality chemical company that produces raw materials for various industries. The company was founded in 1925 and is headquartered in East Yorkshire, England. Croda is a global business with operations in more than 30 countries and a strong presence in Europe, North America, and Asia.
Croda’s core business is the production of speciality chemicals for use in a wide range of industries, including health and personal care, home care, and industrial markets. Some of the products the company manufactures include emollients, emulsifiers, surfactants, and other ingredients used in a variety of consumer and industrial products.
Croda has a strong focus on innovation and sustainability, and the company invests heavily in research and development to develop new and improved products. The company also has a strong commitment to environmental responsibility and sustainability and has implemented a number of initiatives to reduce its environmental impact and promote sustainable business practices.
In addition to its core speciality chemical business, Croda also has operations in other areas, such as life sciences and performance technologies. The company’s life sciences division produces ingredients for use in pharmaceutical and healthcare products, while its performance technologies division develops products for use in various industrial applications, such as coatings, lubricants, and construction materials.
Croda International Share Price Forecast
Despite the company being one of the largest in the UK and spanning across multiple sectors, the past few months have seen its prices consistently going down. The result has been a drop of more than 30 per cent year-to-date, with the past, with the past month seeing a drop of almost 4 per cent.
However, looking at the chart below, it is clear that the company is showing signs that it might recover going into next year. For instance, in the past few weeks, the price action has been mostly in a horizontal market. This week is also showing an aggressive push to the upside, which is likely to continue for the next few days.
Therefore, my long-term Croda International share price forecast expects it to hit the 7520p price level in the coming weeks. It is highly likely that we might be at the start of a new long-term bullish trend that will continue past January next year. However, a drop below 6500p will invalidate my bullish analysis.