The stock of FIRST ASSET CANBANC INCOME CLASS ETF (TSE:CIC) hit a new 52-week high and has $12.29 target or 8.00% above today’s $11.38 share price. The 9 months bullish chart indicates low risk for the $147.04M company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $12.29 price target is reached, the company will be worth $11.76 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. The ETF last traded at $11.38 per share. It is down 8.90% since April 22, 2016 and is uptrending. It has outperformed by 2.89% the S&P500.
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