The stock of Jersey Oil and Gas PLC (LON:JOG) hit a new 52-week high and has GBX 282.56 target or 107.00% above today’s GBX 136.50 share price. The 8 months bullish chart indicates low risk for the GBX 11.55 million company. The 1-year high was reported on Nov, 16 by Barchart.com. If the GBX 282.56 price target is reached, the company will be worth GBX 12.36M 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. About 381,989 shares traded hands or 166.37% up from the average. Jersey Oil and Gas PLC (LON:JOG) has risen 577.78% since April 18, 2016 and is uptrending. It has outperformed by 573.09% the S&P500.
Jersey Oil and Gas plc, formerly Trap Oil Group plc, is engaged in the exploration, development and production of gas and oil reserves from the United Kingdom Continental Shelf. The company has a market cap of 11.55 million GBP. The Company’s segment is the gas and oil exploration, appraisal, development and production, in a single geographical location, the North Sea of the United Kingdom. It currently has negative earnings. The Company’s assets include P.1293 Block 14/18b , which is located in the North West Witch Ground Graben in the Moray Firth and contains the Athena oil field, and Blocks 20/5b & 21/1d, which lies approximately 100 kilometers northeast of Aberdeen, close to the Buchan and Tweedsmuir North and South oilfields and straddle the western end of the North Buchan Trough.
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