Could Niobay Metals Inc Change Direction After Reaching All-Time Low?

 Could Niobay Metals Inc Change Direction After Reaching All Time Low?

The stock of Niobay Metals Inc (CVE:NBY) reached all time low today, Nov, 28 and still has $0.82 target or 5.00% below today’s $0.86 share price. This indicates more downside for the $26.48M company. This technical setup was reported by Barchart.com. If the $0.82 PT is reached, the company will be worth $1.32 million 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. About 21,400 shares traded hands. Niobay Metals Inc (CVE:NBY) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.

More news for Niobay Metals Inc (CVE:NBY) were recently published by: Marketwired.com, which released: “MDN Announces Name Change, New Stock Symbol and Share Consolidation” on September 20, 2016. Reuters.com‘s article titled: “MDN announces name change, new stock symbol and share consolidation” and published on September 20, 2016 is yet another important article.

Niobay Metals Inc, formerly MDN Inc, is a Canada mineral exploration company. The company has a market cap of $26.48 million. The Company’s business consists of acquiring, exploring and evaluating mining properties. It currently has negative earnings. The Firm is in the exploration and evaluation-stage.

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