Could Margaux Resources Ltd Lose its Strength? The Stock Reaches 52-Week High

 Could Margaux Resources Ltd Lose its Strength? The Stock Reaches 52 Week High

The stock of Margaux Resources Ltd (CVE:MRL) hit a new 52-week high and has $0.32 target or 7.00% above today’s $0.30 share price. The 9 months bullish chart indicates low risk for the $10.41M company. The 1-year high was reported on Nov, 30 by Barchart.com. If the $0.32 price target is reached, the company will be worth $728,700 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. About 117,000 shares traded hands or 1452.55% up from the average. Margaux Resources Ltd (CVE:MRL) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

More notable recent Margaux Resources Ltd (CVE:MRL) news were published by: Marketwired.com which released: “Margaux Resources Ltd. Provides Corporate Update” on August 09, 2016, also Marketwired.com with their article: “Margaux Resources Announces Results From Recent Sampling” published on April 12, 2016, Marketwired.com published: “Margaux Resources Ltd. Announces Acquisition of the Jersey Emerald Property, BC” on November 11, 2013. More interesting news about Margaux Resources Ltd (CVE:MRL) were released by: Marketwired.com and their article: “Margaux Resources Ltd. Announces Appointment of Chief Financial Officer” published on December 04, 2014 as well as Marketwired.com‘s news article titled: “Margaux Resources Announces Closing of First Tranche of Private Placement Offering” with publication date: July 04, 2016.

Margaux Resources Ltd. is a capital pool company. The company has a market cap of $10.41 million. The Firm is in the process of acquiring and exploring mineral properties in British Columbia. It currently has negative earnings. The Firm is focused on Jersey Emerald Tungsten-Zinc Property, which is located in the southeast portion of British Columbia.

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