Is Selling 52-Week Stock Like Caltex Australia Limited a Winning Strategy?

 Is Selling 52 Week Stock Like Caltex Australia Limited a Winning Strategy?

The stock of Caltex Australia Limited (ASX:CTX) hit a new 52-week low and has $27.39 target or 7.00% below today’s $29.45 share price. The 7 months bearish chart indicates high risk for the $7.68 billion company. The 1-year low was reported on Nov, 8 by Barchart.com. If the $27.39 price target is reached, the company will be worth $537.60 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 1.31% or $0.39 on November 8, hitting $29.45. About 2.34M shares traded hands or 118.69% up from the average. Caltex Australia Limited (ASX:CTX) has declined 13.96% since April 12, 2016 and is downtrending. It has underperformed by 15.92% the S&P500.

More notable recent Caltex Australia Limited (ASX:CTX) news were published by: Fool.com.Au which released: “Caltex Australia Limited profits plunge, is it time to sell?” on August 23, 2016, also Wsj.com with their article: “Chevron to Sell Caltex Australia Stake for $3.6 Billion” published on March 27, 2015, Reuters.com published: “Caltex Australia confirms offer for Woolworths’ fuel business” on October 17, 2016. More interesting news about Caltex Australia Limited (ASX:CTX) were released by: Fool.com.Au and their article: “Should you buy Caltex Australia Limited?” published on May 04, 2015 as well as Reuters.com‘s news article titled: “RPT-Chevron exits Caltex Australia stake for $3.7 bln” with publication date: March 28, 2015.

Caltex Australia Limited is an Australia transport fuel supplier and convenience retailer company. The company has a market cap of $7.68 billion. The Firm is engaged in the business of purchasing, refining, distributing and marketing petroleum products, and operating convenience stores across Australia. It has a 16.92 P/E ratio. The Firm operates through two divisions: Supply and Marketing, and Lytton.

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