The stock of Capital Drilling Ltd (LON:CAPD) hit a new 52-week high and has GBX 144.86 target or 170.00% above today’s GBX 53.65 share price. The 9 months bullish chart indicates low risk for the GBX 71.68M company. The 1-year high was reported on Nov, 15 by Barchart.com. If the GBX 144.86 price target is reached, the company will be worth GBX 121.86M 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 1.23% or GBX 0.65 on November 15, hitting GBX 53.65. About 2,900 shares traded hands. Capital Drilling Ltd (LON:CAPD) has risen 70.97% since April 15, 2016 and is uptrending. It has outperformed by 67.04% the S&P500.
Capital Drilling Limited is a Singapore drilling services contractor company. The company has a market cap of 71.68 million GBP. The Firm and its subsidiaries provide drilling services, including exploration, development, grade control and blast hole drilling services to mineral exploration and mining companies located in emerging and developed markets. It currently has negative earnings. The Company’s geographical divisions include Africa, which is involved in the provision of drilling services, and Rest of World, which is involved in the provision of drilling services and related logistic, equipment rental and information technology support services.
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