The stock of Bluerock Diamonds PLC (LON:BRD) reached all time low today, Nov, 4 and still has GBX 4.63 target or 14.00% below today’s GBX 5.38 share price. This indicates more downside for the GBX 2.36M company. This technical setup was reported by Barchart.com. If the GBX 4.63 PT is reached, the company will be worth GBX 330,400 less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 6.52% or GBX 0.38 on November 4, hitting GBX 5.38. About 150,428 shares traded hands or 4084.37% up from the average. Bluerock Diamonds PLC (LON:BRD) has declined 65.15% since April 6, 2016 and is downtrending. It has underperformed by 66.24% the S&P500.
BlueRock Diamonds plc is engaged in diamond mining in the Kimberley region of South Africa. The company has a market cap of 2.36 million GBP. The Company, through its subsidiary, Kareevlei Mining Proprietary Limited, has the Mining Right in respect of the Kareevlei Tenements and associated mining equipment, including a diamond processing facility. It currently has negative earnings. The Kareevlei Tenements are located in the Northern Cape Province of South Africa, approximately 100 kilometers northwest of the town of Kimberley.
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