The stock of Rouge Resource Ltd (CVE:F) hit a new 52-week low and has $0.39 target or 6.00% below today’s $0.41 share price. The 9 months bearish chart indicates high risk for the $43.56 million company. The 1-year low was reported on Nov, 29 by Barchart.com. If the $0.39 price target is reached, the company will be worth $2.61M 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. About 150,000 shares traded hands. Rouge Resource Ltd (CVE:F) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
F.V Company Profile
Rouge Resources Ltd., incorporated on March 31, 1988, is a mineral exploration firm engaged in the business of acquiring, exploring, evaluating and developing mineral resource properties in Canada. The Firm holds 100% interest in 16 claims in the Thunder Bay Mining District of North Central Ontario area called the Dotted Lake property.
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