Could South32 Ltd Change Direction After Reaching All-Time High?

 Could South32 Ltd Change Direction After Reaching All Time High?

The stock of South32 Ltd (ASX:S32) reached all time high today, Nov, 10 and still has $3.40 target or 27.00% above today’s $2.68 share price. This indicates more upside for the $14.27B company. This technical setup was reported by Barchart.com. If the $3.40 PT is reached, the company will be worth $3.85B more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. The stock increased 8.06% or $0.2 on November 10, hitting $2.68. About 35.41M shares traded hands or 64.47% up from the average. South32 Ltd (ASX:S32) has risen 73.46% since April 14, 2016 and is uptrending. It has outperformed by 67.81% the S&P500.

More notable recent South32 Ltd (ASX:S32) news were published by: Seekingalpha.com which released: “South32: Coal Is The New Gold” on November 07, 2016, also Wsj.com with their article: “A Year After Spinoff from BHP, South32 Shapes Up” published on June 02, 2016, Fool.com.Au published: “Can South32 Ltd shares go higher?” on October 17, 2016. More interesting news about South32 Ltd (ASX:S32) were released by: Fool.com.Au and their article: “South32 Ltd shares go gangbusters on dividend talk” published on July 12, 2016 as well as Fool.com.Au‘s news article titled: “Why South32 Ltd shares are sinking on its year to forget” with publication date: August 25, 2016.

South32 Limited is a metals and mining company. The company has a market cap of $14.27 billion.

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