Could Aberdeen Frontier Markets Invtmnt Co Ltd Go Down After Reaching 52-Week High?

 Could Aberdeen Frontier Markets Invtmnt Co Ltd Go Down After Reaching 52 Week High?

The stock of Aberdeen Frontier Markets Invtmnt Co Ltd (LON:AFMC) hit a new 52-week high and has GBX 184.80 target or 180.00% above today’s GBX 66.00 share price. The 5 months bullish chart indicates low risk for the GBX company. The 1-year high was reported on Oct, 18 by If the GBX 184.80 price target is reached, the company will be worth GBX more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 0.58% or GBX 0.38 on October 18, hitting GBX 66. About 35,539 shares traded hands. Aberdeen Frontier Markets Invtmnt Co Ltd (LON:AFMC) has risen 16.87% since March 18, 2016 and is uptrending. It has outperformed by 11.38% the S&P500.

Aberdeen Frontier Markets Investment Company Ltd, formerly Advance Frontier Markets Fund Limited, is a closed-ended investment company. The company has a market cap of GBP. The Company’s objective is to generate long-term capital growth for its shareholders. It currently has negative earnings. The Firm invests predominantly in a diversified portfolio of funds and other investment products, which derive their value from Frontier Markets.

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