A Reversal for Storm Resources Ltd Is Not Near. The Stock Reaches 52-Week High Today

 A Reversal for Storm Resources Ltd Is Not Near. The Stock Reaches 52 Week High Today

The stock of Storm Resources Ltd (CVE:SRX) hit a new 52-week high and has $5.78 target or 9.00% above today’s $5.30 share price. The 9 months bullish chart indicates low risk for the $644.86 million company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $5.78 price target is reached, the company will be worth $58.04 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. About 58,266 shares traded hands. Storm Resources Ltd (CVE:SRX) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.

More important recent Storm Resources Ltd (CVE:SRX) news were published by: Marketwired.com which released: “Storm Resources Ltd. Announces Processing Arrangement at Umbach and Increased …” on September 07, 2016, also Marketwired.com published article titled: “Storm Resources Ltd. Is Pleased to Announce Its Financial and Operating …”, Marketwired.com published: “Storm Resources Ltd. Announces Grant of Stock Options” on December 08, 2015. More interesting news about Storm Resources Ltd (CVE:SRX) was released by: Marketwired.com and their article: “Yoho Announces Acquisition of Common Shares of Storm Resources” with publication date: January 31, 2014.

Storm Resources Ltd. is a Canada-based firm engaged in the exploration for, and the acquisition, development and production of oil, natural gas and natural gas liquids reserves in the provinces of Alberta and British Columbia. The company has a market cap of $644.86 million. The Firm focuses on exploratory and development drilling. It currently has negative earnings. The Company’s main areas of activity are located in the Umbach and Horn River Basin areas of northeast British Columbia, with minor interests in the Valhalla area of north central Alberta.

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