Is Buying 52-Week Stock Like Airea Plc a Winning Strategy?

 Is Buying 52 Week Stock Like Airea Plc a Winning Strategy?

The stock of Airea Plc (LON:AIEA) hit a new 52-week high and has GBX 36.62 target or 3.00% above today’s GBX 35.55 share price. The 9 months bullish chart indicates low risk for the GBX 14.51M company. The 1-year high was reported on Nov, 29 by If the GBX 36.62 price target is reached, the company will be worth GBX 435,300 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 stock decreased 2.60% or GBX 0.95 on November 29, hitting GBX 35.55. About 25,176 shares traded hands or 9.89% up from the average. Airea Plc (LON:AIEA) has risen 87.18% since May 2, 2016 and is uptrending. It has outperformed by 81.92% the S&P500.

Airea plc is a specialist flooring company. The company has a market cap of 14.51 million GBP. The Company’s principal activities are focused on manufacturing, marketing and distribution of floor coverings. It has a 11.69 P/E ratio. It offers brands, which include burmatex and Ryalux.

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