What Next for City Natural Resources High Yield Trust Stock After Reaching 52-Week High?

 What Next for City Natural Resources High Yield Trust Stock After Reaching 52 Week High?

The stock of City Natural Resources High Yield Trust (LON:CYN) hit a new 52-week high and has GBX 211.25 target or 69.00% above today’s GBX 125.00 share price. The 8 months bullish chart indicates low risk for the GBX 85.23M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the GBX 211.25 price target is reached, the company will be worth GBX 58.81 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. The stock increased 1.42% or GBX 1.75 on November 11, hitting GBX 125. About 91,181 shares traded hands. City Natural Resources High Yield Trust (LON:CYN) has risen 5.76% since April 14, 2016 and is uptrending. It has underperformed by 0.39% the S&P500.

City Natural Resources High Yield Trust plc is an investment company, which is engaged in carrying on the business of investment trust. The company has a market cap of 85.23 million GBP. The objective of the Company is to provide shareholders with capital growth and income predominantly from a portfolio of mining and resource equities, and of mining, resource and industrial fixed interest securities. It has a 10.41 P/E ratio. The Firm may, but is not obliged to, invest in derivatives, financial instruments, money market instruments and currencies for the purpose of portfolio management.

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