Could Elderstreet VCT PLC See a Reversal After Breaking Its 52-Week High?

 Could Elderstreet VCT PLC See a Reversal After Breaking Its 52 Week High?

The stock of Elderstreet VCT PLC (LON:EDV) hit a new 52-week high and has GBX 61.80 target or 3.00% above today’s GBX 60.00 share price. The 7 months bullish chart indicates low risk for the GBX 23.37 million company. The 1-year high was reported on Nov, 24 by If the GBX 61.80 price target is reached, the company will be worth GBX 701,100 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 4.00% or GBX 2.5 on November 24, hitting GBX 60. About 10,325 shares traded hands or 399.03% up from the average. Elderstreet VCT PLC (LON:EDV) has declined 8.49% since April 27, 2016 and is downtrending. It has underperformed by 13.90% the S&P500.

Another recent and important Elderstreet VCT PLC (LON:EDV) news was published by which published an article titled: “Elderstreet VCT plc : Manager Update” on November 24, 2016.

Elderstreet VCT Plc is a United Kingdom venture capital trust . The company has a market cap of 23.37 million GBP. The Company’s principal investment objectives are to invest in a diversified portfolio of companies, focusing on smaller unquoted companies; pay annual dividends of between 4 and 5 pence per Ordinary share (subject to liquidity), and maintain its VCT status. It has a 9.16 P/E ratio. The Company’s investment portfolio includes venture capital investments and fixed income securities.

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