The stock of Africa Energy Corp (CVE:AFE) reached all time high today, Oct, 31 and still has $0.70 target or 154.00% above today’s $0.28 share price. This indicates more upside for the $71.27 million company. This technical setup was reported by Barchart.com. If the $0.70 PT is reached, the company will be worth $109.76 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 48,000 shares traded hands. Africa Energy Corp (CVE:AFE) has risen 6.00% since October 1, 2016 and is uptrending. It has outperformed by 2.53% the S&P500.
More recent Africa Energy Corp (CVE:AFE) news were published by: Stockhouse.com which released: “Africa Energy Announces C$15 Million Private Placement” on October 31, 2016. Also Marketwired.com published the news titled: “Africa Energy Closes Three Deals to Acquire 90% Interest in Block 2B Offshore …” on October 21, 2016. Seekingalpha.com‘s news article titled: “A Swing For The Fences With Rex Energy” with publication date: October 31, 2016 was also an interesting one.
Africa Energy Corp. , formerly Horn Petroleum Corporation, is a Canada exploration-stage international gas and oil exploration and development company. The company has a market cap of $71.27 million. The Firm focuses on the BLOCK 2B in South Africa. It currently has negative earnings. Block 2B covers approximately 4,360 square kilometers of the South African Western offshore approximately 300 kilometers north of Cape Town.
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