The stock of Scottish Pacific Group Ltd (ASX:SCO) reached all time low today, Nov, 22 and still has $2.29 target or 4.00% below today’s $2.39 share price. This indicates more downside for the $332.67M company. This technical setup was reported by Barchart.com. If the $2.29 PT is reached, the company will be worth $13.31M less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. The stock decreased 4.78% or $0.12 on November 22, hitting $2.39. About 1.23 million shares traded hands or 238.19% up from the average. Scottish Pacific Group Ltd (ASX:SCO) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
Another recent and important Scottish Pacific Group Ltd (ASX:SCO) news was published by Fool.com.Au which published an article titled: “Why the Scottish Pacific Group Ltd share price crashed today” on November 14, 2016.
Scottish Pacific Group Limited is engaged in providing specialized financial services. The company has a market cap of $332.67 million. The Firm provides working capital to businesses operating in Australia, New Zealand and the United Kingdom. It has a 3319.44 P/E ratio. The Company’s divisions include Debtor Finance and Trade Finance.
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