The stock of GFG Resources Inc (CVE:GFG) reached all time low today, Nov, 16 and still has $1.27 target or 11.00% below today’s $1.43 share price. This indicates more downside for the $59.36 million company. This technical setup was reported by Barchart.com. If the $1.27 PT is reached, the company will be worth $6.53 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock last traded at $1.43 per share. It is up 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.
More notable recent GFG Resources Inc (CVE:GFG) news were published by: Marketwired.com which released: “Crest Petroleum Announces Proposed Reverse Takeover With GFG Resources Inc …” on June 27, 2016, also Marketwatch.com with their article: “GFG Resources Inc. Begins Trading on TSX Venture Exchange” published on October 26, 2016, Marketwired.com published: “Crest Petroleum Updates Proposed Reverse Takeover with GFG Resources Inc. and …” on September 12, 2016. More interesting news about GFG Resources Inc (CVE:GFG) were released by: Marketwatch.com and their article: “GFG Resources Inc.” published on November 01, 2016 as well as Marketwired.com‘s news article titled: “GFG Resources Increases Rattlesnake Hills Land Package With Acquisition and …” with publication date: October 12, 2016.
GFG Resources Inc, formerly Crest Petroleum Corp, is a Canada gold exploration company. The company has a market cap of $59.36 million. It owns the Rattlesnake Hills Gold Project, which is a gold exploration project that is located approximately 100 kilometers southwest of Casper, Wyoming. It currently has negative earnings. The Rattlesnake Hills Project is centrally located within an approximately 1,500 kilometer-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits.
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