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China Petroleum Pressuring Resistance

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June 04, 2009 |Comments: 0
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SNP

China Petroleum & Chemical Corp. (SNP) gained slightly in morning trade to pressure a short-term level of resistance at $76.54. Despite large-scale fluctuation in oil prices, analysts on average see the company’s 2009 earnings surging to $5.46 a share from 45 cents in the year-ago period. China Petroleum is a Zacks#1 Rank (“Strong Buy”) stock.

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