Bega Cheese Ltd Sets 52-Week Low; Strong Momentum for Sellers

 Bega Cheese Ltd Sets 52 Week Low; Strong Momentum for Sellers

The stock of Bega Cheese Ltd (ASX:BGA) hit a new 52-week low and has $4.58 target or 7.00% below today’s $4.93 share price. The 5 months bearish chart indicates high risk for the $752.33 million company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $4.58 price target is reached, the company will be worth $52.66 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 2.18% or $0.11 on October 31, hitting $4.93. About 576,131 shares traded hands or 35.92% up from the average. Bega Cheese Ltd (ASX:BGA) has declined 18.38% since April 4, 2016 and is downtrending. It has underperformed by 21.85% the S&P500.

More notable recent Bega Cheese Ltd (ASX:BGA) news were published by: Fool.com.Au which released: “Here’s why Bega Cheese Ltd is getting hammered today” on October 25, 2016, also Fool.com.Au with their article: “Is Bega Cheese Ltd a buy after doubling its profits?” published on August 24, 2016, Fool.com.Au published: “Why Bega Cheese Ltd shares are soaring” on December 30, 2015. More interesting news about Bega Cheese Ltd (ASX:BGA) were released by: Fool.com.Au and their article: “Can Bega Cheese Ltd shares grow with the baby formula boom?” published on January 28, 2016 as well as Fool.com.Au‘s news article titled: “Are Ansell Limited and Bega Cheese Ltd bargain opportunities?” with publication date: April 06, 2016.

Bega Cheese Limited is engaged in receiving, processing, manufacturing and distributing dairy and associated products. The company has a market cap of $752.33 million. The Company’s divisions include Bega Cheese and Tatura Milk. It has a 26.14 P/E ratio. The Company’s Bega Cheese segment makes natural cheese, processed cheese, powders, butter and packaged cheese products.

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