The stock of BlueScope Steel Limited (ASX:BSL) hit a new 52-week high and has $9.68 target or 4.00% above today’s $9.31 share price. The 7 months bullish chart indicates low risk for the $5.34 billion company. The 1-year high was reported on Nov, 29 by Barchart.com. If the $9.68 price target is reached, the company will be worth $213.60 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 stock decreased 0.43% or $0.04 on November 29, hitting $9.31. About 3.01 million shares traded hands. BlueScope Steel Limited (ASX:BSL) has risen 41.92% since May 3, 2016 and is uptrending. It has outperformed by 36.66% the S&P500.
More notable recent BlueScope Steel Limited (ASX:BSL) news were published by: Marketwatch.com which released: “BlueScope Steel Ltd.” on April 18, 2011, also Fool.com.Au with their article: “Why the BlueScope Steel Limited share price is surging today” published on August 22, 2016, Fool.com.Au published: “Why BlueScope Steel Limited shares are soaring today” on February 12, 2016. More interesting news about BlueScope Steel Limited (ASX:BSL) were released by: Moodys.com and their article: “Moody’s upgrades BlueScope Steel to Ba2; outlook stable” published on April 08, 2016 as well as Fool.com.Au‘s news article titled: “Why BlueScope Steel Limited shares are going crazy today” with publication date: November 10, 2016.
BlueScope Steel Limited is a steel manufacturing company. The company has a market cap of $5.34 billion. The Firm offers metal coated and painted steel building products, and is also a supplier of engineered building solutions to industrial and commercial markets. It has a 15.42 P/E ratio.
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