Could K3 Business Technology Group plc Change Direction After Reaching 52-Week Low?

 Could K3 Business Technology Group plc Change Direction After Reaching 52 Week Low?

The stock of K3 Business Technology Group plc (LON:KBT) hit a new 52-week low and has GBX 297.60 target or 4.00% below today’s GBX 310.00 share price. The 9 months bearish chart indicates high risk for the GBX 113.37M company. The 1-year low was reported on Nov, 22 by Barchart.com. If the GBX 297.60 price target is reached, the company will be worth GBX 4.53M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock decreased 0.48% or GBX 1.5 on November 22, hitting GBX 310. About 58,336 shares traded hands or 160.22% up from the average. K3 Business Technology Group plc (LON:KBT) has declined 10.74% since April 25, 2016 and is downtrending. It has underperformed by 15.30% the S&P500.

K3 Business Technology Group plc is a well-known provider of integrated business solutions. The company has a market cap of 113.37 million GBP. The Company’s business solutions encompass Enterprise Resource Planning software, Customer Relationship Management (CRM) software, Business Intelligence and e-commerce, hosting and managed services to the supply chain sector. It has a 25.16 P/E ratio. The Company’s divisions include Retail, and Manufacturing and Distribution.

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