Could MARIANA RESOURCES LTD See a Reversal After Breaking Its 52-Week High?

 Could MARIANA RESOURCES LTD See a Reversal After Breaking Its 52 Week High?

The stock of MARIANA RESOURCES LTD (CVE:MRA) hit a new 52-week high and has $3.10 target or 150.00% above today’s $1.24 share price. The 6 months bullish chart indicates low risk for the $149.64M company. The 1-year high was reported on Oct, 31 by Barchart.com. If the $3.10 price target is reached, the company will be worth $224.46M 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. About 244,515 shares traded hands or 77.92% up from the average. MARIANA RESOURCES LTD (CVE:MRA) has risen 6.00% since October 1, 2016 and is uptrending. It has outperformed by 2.53% the S&P500.

More important recent MARIANA RESOURCES LTD (CVE:MRA) news were published by: Globenewswire.com which released: “Mariana Resources Ltd: Mariana Commences Trading on the TSXV Today” on July 26, 2016, also Globenewswire.com published article titled: “Mariana Resources Ltd : Renewed Argentinean Focus”, Globenewswire.com published: “Mariana Resources Ltd : Mariana Announces Closing of Private Placement for …” on May 04, 2016. More interesting news about MARIANA RESOURCES LTD (CVE:MRA) was released by: Seekingalpha.com and their article: “Searching For World Class Gold Resources: Mariana Resources” with publication date: August 16, 2016.

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