Will Storm Resources Ltd Run Out of Steam Soon?

 Will Storm Resources Ltd Run Out of Steam Soon?

The stock of Storm Resources Ltd (CVE:SRX) hit a new 52-week high and has $8.58 target or 65.00% above today’s $5.20 share price. The 8 months bullish chart indicates low risk for the $665.91 million company. The 1-year high was reported on Nov, 16 by Barchart.com. If the $8.58 price target is reached, the company will be worth $432.84M 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 65,100 shares traded hands. Storm Resources Ltd (CVE:SRX) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

More notable recent Storm Resources Ltd (CVE:SRX) news were published by: Reuters.com which released: “BRIEF-Storm Resources Ltd Qtrly FFO per share $0.07” on November 15, 2016, also Marketwired.com with their article: “Storm Resources Ltd. Announces Processing Arrangement at Umbach and Increased …” published on September 07, 2016, Marketwired.com published: “Storm Resources Ltd. Is Pleased to Announce Its Financial and Operating …” on May 12, 2016. More interesting news about Storm Resources Ltd (CVE:SRX) were released by: Marketwired.com and their article: “Storm Resources Ltd. Announces Grant of Stock Options” published on December 08, 2015 as well as Marketwired.com‘s news article titled: “Yoho Announces Acquisition of Common Shares of Storm Resources” with publication date: January 31, 2014.

Storm Resources Ltd. is a Canada-based firm engaged in the exploration for, and the acquisition, development and production of oil, natural gas and natural gas liquids reserves in the provinces of Alberta and British Columbia. The company has a market cap of $665.91 million. The Firm focuses on exploratory and development drilling. It currently has negative earnings. The Company’s main areas of activity are located in the Umbach and Horn River Basin areas of northeast British Columbia, with minor interests in the Valhalla area of north central Alberta.

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