Could Paragon Entertainment Ltd Go Down After Reaching 52-Week High?

 Could Paragon Entertainment Ltd Go Down After Reaching 52 Week High?

The stock of Paragon Entertainment Ltd (LON:PEL) hit a new 52-week high and has GBX 3.59 target or 33.00% above today’s GBX 2.70 share price. The 8 months bullish chart indicates low risk for the GBX 5.88 million company. The 1-year high was reported on Nov, 16 by Barchart.com. If the GBX 3.59 price target is reached, the company will be worth GBX 1.94 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 decreased 3.57% or GBX 0.1 on November 16, hitting GBX 2.7. About 599,885 shares traded hands. Paragon Entertainment Ltd (LON:PEL) has risen 64.71% since April 15, 2016 and is uptrending. It has outperformed by 60.02% the S&P500.

Another recent and important Paragon Entertainment Ltd (LON:PEL) news was published by Reuters.com which published an article titled: “BRIEF-Paragon Entertainment sees higher FY EBITDA” on November 01, 2016.

Paragon Entertainment Limited is a holding company, which is engaged in the distribution of pre-packaged leisure and attraction products and license branded attraction concepts to operators of attractions and leisure destinations. The company has a market cap of 5.88 million GBP. The Company’s principal activities include licensing and distribution, and Paragon Creative Limited, through which it conducts design and build business. It has a 9.09 P/E ratio. The Company’s divisions include Design and Build, and Licensing and Distribution.

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