The stock of Obtala Ltd (LON:OBT) hit a new 52-week high and has GBX 17.85 target or 5.00% above today’s GBX 17.00 share price. The 6 months bullish chart indicates low risk for the GBX 44.75M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the GBX 17.85 price target is reached, the company will be worth GBX 2.24 million 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 decreased 2.16% or GBX 0.38 on November 22, hitting GBX 17. About 445,839 shares traded hands. Obtala Ltd (LON:OBT) has risen 178.00% since April 22, 2016 and is uptrending. It has outperformed by 173.44% the S&P500.
Another recent and important Obtala Ltd (LON:OBT) news was published by Fool.Co.Uk which published an article titled: “Obtala Resources Plc’s Growth Is Only Just Getting Started” on June 30, 2015.
Obtala Limited, formerly Obtala Resources Limited, is engaged in the development of agricultural, food processing and timber projects, the holding of mineral resource licenses, projects and investment in other natural resources exploration and development companies and retail. The company has a market cap of 44.75 million GBP. The Firm operates through four divisions: Exploration and development, Agriculture and forestry, Investing activities and Retail. It currently has negative earnings. The Company’s geographic focus is within sub-Saharan Africa, with its projects operational in Tanzania, Mozambique and Lesotho.
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