Canfor (OTCMKTS:CFPZF) Stock Passes Above 50 Day Moving Average – Time to Sell?

Canfor Co. (OTCMKTS:CFPZF)’s stock price crossed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $8.90 and traded as high as $10.77. Canfor shares last traded at $10.77, with a volume of 6,212 shares traded.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial upgraded shares of Canfor to a “strong-buy” rating in a report on Wednesday, January 14th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. According to data from MarketBeat, Canfor has a consensus rating of “Strong Buy”.

Canfor Stock Performance

The business has a 50 day moving average of $8.90 and a 200 day moving average of $9.18.

About Canfor

Canfor Corporation is a Canada-based integrated forest products company headquartered in Vancouver, British Columbia. The company’s primary business activities include the manufacturing and distribution of softwood lumber, oriented strand board (OSB), and other wood products used in residential and commercial construction. In addition to its core lumber operations, Canfor produces northern bleached softwood kraft (NBSK) pulp, specialty papers and biofuels through its pulp and paper facilities, providing a vertically integrated offering for customers across multiple end markets.

Canfor operates an extensive network of manufacturing facilities, including lumber mills in British Columbia and Alberta, as well as in the U.S.