What’s Ahead for Enteq Upstream PLC After Reaching 52-Week High?

 What's Ahead for Enteq Upstream PLC After Reaching 52 Week High?

The stock of Enteq Upstream PLC (LON:NTQ) hit a new 52-week high and has GBX 19.26 target or 7.00% above today’s GBX 18.00 share price. The 5 months bullish chart indicates low risk for the GBX 10.64M company. The 1-year high was reported on Nov, 22 by Barchart.com. If the GBX 19.26 price target is reached, the company will be worth GBX 744,800 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 5.88% or GBX 1 on November 22, hitting GBX 18. About 63,413 shares traded hands. Enteq Upstream PLC (LON:NTQ) has risen 37.37% since April 21, 2016 and is uptrending. It has outperformed by 32.82% the S&P500.

Enteq Upstream Plc and subsidiaries are engaged in acquiring, consolidating and operating companies providing specialist reach and recovery products and technologies to the upstream gas and oil services market. The company has a market cap of 10.64 million GBP. The Company’s Drilling Tools division is engaged in the design, manufacture and selling of specialized parts and products for directional drilling and measurement while drilling activities for use in the energy exploration and services sector of the gas and oil industry. It currently has negative earnings. The Company’s drilling products include MWD mechanical parts, mud motor parts, float valves and fabricated parts.

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