DD: attractive basing pattern

DD: Since 2000 stock trades in a narrow range between $50-40.

Aattractive consolidation pattern: suggesting a favorable odds for a pending breakout above $50. An upside move above $50 can trigger upside momentum.

Longer-term bet and might carry an opportunity cost of capital. A set up for an attractive reward given an emerging cyclical theme. (Chemicals and other large cap basic materials/industrials).

Near-term entry point: after a run up from $40-44--- not timely but at early stages of recovery. Not a trade but a 3-6 months play with an exit at $40.

fundamentals outlook: lower raw material costs and higher average prices will offset softening demand, and also thinks the stock is modestly undervalued. **JP Morgan comments**

I also like this name because of a value like approach and nice to have those names in the portfolio in an uncertain / less trending market.