What’s Next for City of London Investment Trust plc After Reaching 52-Week High?

 What's Next for City of London Investment Trust plc After Reaching 52 Week High?

The stock of City of London Investment Trust plc (LON:CTYA) hit a new 52-week high and has GBX 91.77 target or 33.00% above today’s GBX 69.00 share price. The 6 months bullish chart indicates low risk for the GBX 1.44 billion company. The 1-year high was reported on Nov, 3 by Barchart.com. If the GBX 91.77 price target is reached, the company will be worth GBX 475.20M 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 decreased 27.37% or GBX 26 on November 3, hitting GBX 69. City of London Investment Trust plc (LON:CTYA) has 0.00% since April 4, 2016 and is . It has underperformed by 1.21% the S&P500.

Another recent and important City of London Investment Trust plc (LON:CTYA) news was published by Fool.Co.Uk which published an article titled: “3 top long-term ISA holdings: GlaxoSmithKline plc, Unilever plc and City of …” on June 07, 2016.

The City of London Investment Trust plc is a United Kingdom investment trust company. The company has a market cap of 1.44 billion GBP. The Company’s objective is to provide long-term growth in income and capital, principally by investment in equities listed on the London Stock Exchange. It has a 5.83 P/E ratio. The Firm will mainly invest in equities and in debt securities, such as convertibles, corporate bonds or government debt.

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