China Africa Resources PLC on Focus After Trading At 52-Week Highs

 China Africa Resources PLC on Focus After Trading At 52 Week Highs

The stock of China Africa Resources PLC (LON:CAF) hit a new 52-week high and has GBX 10.73 target or 43.00% above today’s GBX 7.50 share price. The 7 months bullish chart indicates low risk for the GBX 1.97 million company. The 1-year high was reported on Nov, 15 by Barchart.com. If the GBX 10.73 price target is reached, the company will be worth GBX 847,100 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 closed at GBX 7.5 during the last session. It is up 100.00% since April 14, 2016 and is uptrending. It has outperformed by 96.07% the S&P500.

Another recent and important China Africa Resources PLC (LON:CAF) news was published by Wsj.com which published an article titled: “Mining Collapse Cripples Africa’s Dreams of Prosperity” on March 04, 2016.

China Africa Resources plc is a United Kingdom company, which is engaged in exploration and evaluation of mining assets. The company has a market cap of 1.97 million GBP. The Firm is involved in the exploration and development of base metals, primarily lead and zinc. It currently has negative earnings. The Firm is engaged in the evaluation of the Berg Aukas Mine, which is located near Grootfontein in Northern Namibia.

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