Could Confederation Minerals Ltd Go Down After Reaching 52-Week High?

 Could Confederation Minerals Ltd Go Down After Reaching 52 Week High?

The stock of Confederation Minerals Ltd (CVE:CFM) hit a new 52-week high and has $1.55 target or 124.00% above today’s $0.69 share price. The 6 months bullish chart indicates low risk for the $5.88M company. The 1-year high was reported on Nov, 10 by Barchart.com. If the $1.55 price target is reached, the company will be worth $7.29 million 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. About 7,300 shares traded hands. Confederation Minerals Ltd (CVE:CFM) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.

More important recent Confederation Minerals Ltd (CVE:CFM) news were published by: Marketwatch.com which released: “Confederation Minerals Ltd. Closes Non-Brokered Private Placement” on October 28, 2016, also Marketwatch.com published article titled: “Confederation Minerals Ltd. Clarifying Previously Announced Private Placement”, Stockhouse.com published: “Confederation Minerals Ltd. Closes Shares for Debt Transaction” on November 02, 2016. More interesting news about Confederation Minerals Ltd (CVE:CFM) was released by: Marketwired.com and their article: “Kariana Resources Inc. Appoints CEO and Director” with publication date: December 17, 2013.

Confederation Minerals Ltd. is a junior resource firm whose business is to seek out and develop mineral deposits. The company has a market cap of $5.88 million. The Company’s principal business activity is the exploration of exploration and evaluation assets. It currently has negative earnings. The Firm has interest in Redstar’s Newman Todd gold project in the Red Lake Mining District of Northern Ontario.

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