The stock of MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) hit a new 52-week low and has GBX 2.39 target or 13.00% below today’s GBX 2.75 share price. The 7 months bearish chart indicates high risk for the GBX company. The 1-year low was reported on Nov, 11 by Barchart.com. If the GBX 2.39 price target is reached, the company will be worth GBX 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 12.00% or GBX 0.38 on November 11, hitting GBX 2.75. About 4.48 million shares traded hands or 276.47% up from the average. MKANGO RESOURCES LTD CMN SHS NPV (DI) (LON:MKA) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
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