Is Buying 52-Week Stock Like Record Plc a Winning Strategy?

 Is Buying 52 Week Stock Like Record Plc a Winning Strategy?

The stock of Record Plc (LON:REC) hit a new 52-week high and has GBX 76.72 target or 131.00% above today’s GBX 33.21 share price. The 8 months bullish chart indicates low risk for the GBX 74.56M company. The 1-year high was reported on Nov, 17 by Barchart.com. If the GBX 76.72 price target is reached, the company will be worth GBX 97.67M 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 increased 7.55% or GBX 2.33 on November 17, hitting GBX 33.21. About 272,035 shares traded hands or 179.81% up from the average. Record Plc (LON:REC) has risen 24.54% since April 20, 2016 and is uptrending. It has outperformed by 19.91% the S&P500.

Record plc is a United Kingdom company, which is engaged in the provision of currency management services. The company has a market cap of 74.56 million GBP. The Company’s suite of products is divided in two categories: Currency Hedging and Currency for Return products. It has a 13.06 P/E ratio. It also offers solutions to individual client requirements.

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