Could GFG Resources Inc Gain Strenght? The Stock Reaches 52-Week Low

 Could GFG Resources Inc Gain Strenght? The Stock Reaches 52 Week Low

The stock of GFG Resources Inc (CVE:GFG) hit a new 52-week low and has $1.16 target or 7.00% below today’s $1.25 share price. The 6 months bearish chart indicates high risk for the $48.62M company. The 1-year low was reported on Nov, 29 by Barchart.com. If the $1.16 price target is reached, the company will be worth $3.40M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. The stock last traded at $1.25 per share. It is up 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.

More notable recent GFG Resources Inc (CVE:GFG) news were published by: Marketwired.com which released: “Crest Petroleum Announces Proposed Reverse Takeover With GFG Resources Inc …” on June 27, 2016, also Marketwatch.com with their article: “GFG Resources Inc. Begins Trading on TSX Venture Exchange” published on October 26, 2016, Marketwired.com published: “Crest Petroleum Updates Proposed Reverse Takeover with GFG Resources Inc. and …” on September 12, 2016. More interesting news about GFG Resources Inc (CVE:GFG) were released by: Marketwatch.com and their article: “GFG Resources Inc.” published on November 01, 2016 as well as Marketwired.com‘s news article titled: “GFG Resources Increases Rattlesnake Hills Land Package With Acquisition and …” with publication date: October 12, 2016.

GFG Resources Inc, formerly Crest Petroleum Corp, is a Canada gold exploration company. The company has a market cap of $48.62 million. It owns the Rattlesnake Hills Gold Project, which is a gold exploration project that is located approximately 100 kilometers southwest of Casper, Wyoming. It currently has negative earnings. The Rattlesnake Hills Project is centrally located within an approximately 1,500 kilometer-long belt of alkalic intrusive complexes that occur along the eastern side of the Rocky Mountains from Montana to New Mexico, several of which are associated with multiple gold deposits.

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