After Reaching 52-Week High, Is ALS Ltd’s Near-Term Analysis Positive?

 After Reaching 52 Week High, Is ALS Ltd's Near Term Analysis Positive?

The stock of ALS Ltd (ASX:ALQ) hit a new 52-week high and has $10.34 target or 59.00% above today’s $6.50 share price. The 9 months bullish chart indicates low risk for the $3.28 billion company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $10.34 price target is reached, the company will be worth $1.94 billion 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 increased 7.44% or $0.45 on November 10, hitting $6.5. About 2.36 million shares traded hands or 0.43% up from the average. ALS Ltd (ASX:ALQ) has risen 53.30% since April 14, 2016 and is uptrending. It has outperformed by 47.65% the S&P500.

More notable recent ALS Ltd (ASX:ALQ) news were published by: Fool.com.Au which released: “ALS Ltd lining up as next takeover target” on June 01, 2016, also Fool.com.Au with their article: “ALS Ltd share price soars on $2.7 billion takeover bid” published on June 02, 2016, Fool.com.Au published: “Why the ALS Ltd share price dropped like a stone today” on May 30, 2016. More interesting news about ALS Ltd (ASX:ALQ) were released by: Bloomberg.com and their article: “ALS Rejects A$2.67 Billion Takeover Offer From Bain, Advent” published on June 02, 2016 as well as Fool.com.Au‘s news article titled: “Here’s why these 4 ASX shares are rocketing higher today” with publication date: September 21, 2016.

ALS Limited is a testing services provider. The company has a market cap of $3.28 billion. The principal activities of the Company are the provision of professional technical services in the areas of testing, measurement and inspection, supporting environmental monitoring; food and pharmaceutical quality assurance; mining and mineral exploration; commodity certification; gas and oil exploration and production; equipment maintenance, and asset care operations. It currently has negative earnings.

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