United Carpets Group plc Sets 52-Week Low; Strong Momentum for Sellers

 United Carpets Group plc Sets 52 Week Low; Strong Momentum for Sellers

The stock of United Carpets Group plc (LON:UCG) hit a new 52-week low and has GBX 8.37 target or 12.00% below today’s GBX 9.51 share price. The 7 months bearish chart indicates high risk for the GBX 7.68 million company. The 1-year low was reported on Nov, 15 by Barchart.com. If the GBX 8.37 price target is reached, the company will be worth GBX 921,600 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 increased 2.81% or GBX 0.26 on November 15, hitting GBX 9.51. United Carpets Group plc (LON:UCG) has declined 19.57% since April 18, 2016 and is downtrending. It has underperformed by 23.49% the S&P500.

United Carpets Group plc is engaged in carpet and bed retailing. The company has a market cap of 7.68 million GBP. The Firm is also involved in franchising of retail outlets. It has a 6.38 P/E ratio. The Company’s divisions include Franchising and Retail, Warehousing and Property.

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