The stock of Georgian Mining Corp (LON:GEO) reached all time low today, Nov, 24 and still has GBX 7.34 target or 7.00% below today’s GBX 7.89 share price. This indicates more downside for the GBX 6.50 million company. This technical setup was reported by Barchart.com. If the GBX 7.34 PT is reached, the company will be worth GBX 455,000 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 increased 0.16% or GBX 0.01 on November 24, hitting GBX 7.89. About 18,000 shares traded hands. Georgian Mining Corp (LON:GEO) has declined 56.25% since April 27, 2016 and is downtrending. It has underperformed by 61.66% the S&P500.
Another recent and important Georgian Mining Corp (LON:GEO) news was published by Uk.Finance.Yahoo.com which published an article titled: “PEG Ratio (5 yr expected):” on March 29, 2014.
Georgian Mining Corporation, formerly Noricum Gold Limited, is a copper-gold exploration and development company. The company has a market cap of 6.50 million GBP. The Firm has 50% ownership and operational control of the Bolnisi Copper and Gold Project in Georgia, situated on the Tethyan Belt, which hosts a range of copper-gold deposits and producing mines. It currently has negative earnings. The Bolnisi license covers an area of over 860 square kilometers and has a 30 year mining license with two exploration projects: Kvemo Bolnisi and Tsitsel Sopeli.
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