Could Syrah Resources Ltd Change Direction After Reaching 52-Week Low?

 Could Syrah Resources Ltd Change Direction After Reaching 52 Week Low?

The stock of Syrah Resources Ltd (ASX:SYR) hit a new 52-week low and has $2.68 target or 4.00% below today’s $2.79 share price. The 8 months bearish chart indicates high risk for the $735.88M company. The 1-year low was reported on Nov, 30 by Barchart.com. If the $2.68 price target is reached, the company will be worth $29.44 million 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 decreased 0.36% or $0.01 on November 30, hitting $2.79. About 5.38M shares traded hands or 144.55% up from the average. Syrah Resources Ltd (ASX:SYR) has declined 40.26% since May 4, 2016 and is downtrending. It has underperformed by 45.48% the S&P500.

More important recent Syrah Resources Ltd (ASX:SYR) news were published by: Fool.com.Au which released: “Here’s why Syrah Resources Ltd shares are getting crushed” on October 05, 2016, also Seekingalpha.com published article titled: “My Favorite Contrarian Idea: Short Syrah Resources (SYAAF)”, Seekingalpha.com published: “Syrah Resources: The Future Graphite And Vanadium Behemoth (SYAAF)” on March 31, 2015. More interesting news about Syrah Resources Ltd (ASX:SYR) was released by: Fool.com.Au and their article: “Why Syrah Resources Ltd soared more than 18% today” with publication date: July 10, 2014.

Syrah Resources Limited is an Australia resource company. The company has a market cap of $735.88 million. The Firm is engaged in the development and construction of the Balama Graphite Project in Mozambique; assessment of the use of graphite from the Balama Graphite Project as an input into the production of spherical graphite and recarburizer products, and exploration and evaluation studies, including technical investigations into the potential to extract and produce vanadium from the Balama Graphite Project ore body. It currently has negative earnings. The Company’s divisions include Australia and Mozambique.

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