The stock of Nexgen Energy Ltd (TSE:NXE) reached all time low today, Sep, 14 and still has $1.97 target or 8.00% below today’s $2.14 share price. This indicates more downside for the $653.33M company. This technical setup was reported by Barchart.com. If the $1.97 PT is reached, the company will be worth $52.27 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 2.28% or $0.05 on September 13, hitting $2.14. About 1.15 million shares traded hands or 122.51% up from the average. Nexgen Energy Ltd (TSE:NXE) has risen 160.71% since February 5, 2016 and is uptrending. It has outperformed by 144.23% the S&P500.
NexGen Energy Ltd., formerly Clermont Capital Inc., is a Canada exploration-stage company. The company has a market cap of $653.33 million. The Firm operates in the segment of acquisition, exploration and development of uranium properties. It currently has negative earnings. It operates as a mineral exploration and development firm with a portfolio of projects that span the Athabasca Basin in Saskatchewan, Canada.
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