Will Archon Minerals Limited Short Squeeze Soon?

 Will Archon Minerals Limited Short Squeeze Soon?

The stock of Archon Minerals Limited (CVE:ACS) hit a new 52-week low and has $1.13 target or 13.00% below today’s $1.30 share price. The 5 months bearish chart indicates high risk for the $70.09M company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $1.13 price target is reached, the company will be worth $9.11 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. About 18,700 shares traded hands or 2163.92% up from the average. Archon Minerals Limited (CVE:ACS) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

More notable recent Archon Minerals Limited (CVE:ACS) news were published by: Business.Financialpost.com which released: “Chuck Fipke attempts to block Harry Winston’s Ekati deal” on January 17, 2013, also Businesswire.com with their article: “Dominion Diamond Corporation Reports Fiscal 2017 First Quarter Results” published on June 08, 2016, Bloomberg.com published: “Debevoise, Goodwin Procter, Norton Rose: Business of Law” on January 18, 2013. More interesting news about Archon Minerals Limited (CVE:ACS) were released by: Businesswire.com and their article: “Dominion Diamond Corporation to Proceed with Jay Project Based on Positive …” published on July 06, 2016 as well as Businesswire.com‘s news article titled: “Dominion Diamond Corporation Reports Fiscal 2017 Second Quarter Results” with publication date: September 08, 2016.

Archon Minerals Limited is engaged in the business of diamond exploration in the Northwest Territories of Canada. The company has a market cap of $70.09 million. The Firm has interests in approximately three active property groups. It currently has negative earnings. The Company’s exploration projects include Buffer Zone Project, WO Block Project and Monument Diamond Project.

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