Is Selling 52-Week Stock Like SG Fleet Group Ltd a Winning Strategy?

 Is Selling 52 Week Stock Like SG Fleet Group Ltd a Winning Strategy?

The stock of SG Fleet Group Ltd (ASX:SGF) hit a new 52-week low and has $3.04 target or 6.00% below today’s $3.23 share price. The 8 months bearish chart indicates high risk for the $815.73M company. The 1-year low was reported on Nov, 30 by Barchart.com. If the $3.04 price target is reached, the company will be worth $48.94M 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 increased 1.25% or $0.04 on November 30, hitting $3.23. About 743,352 shares traded hands or 107.23% up from the average. SG Fleet Group Ltd (ASX:SGF) has declined 6.38% since May 4, 2016 and is downtrending. It has underperformed by 11.60% the S&P500.

More notable recent SG Fleet Group Ltd (ASX:SGF) news were published by: Fool.com.Au which released: “SG Fleet Group Ltd delivers strong results: Should you buy?” on August 16, 2016, also Fool.com.Au with their article: “Here’s why SG Fleet Group Ltd shares sank 15% today” published on October 27, 2016, Fool.com.Au published: “SG Fleet Group Ltd reports: What you need to know” on August 18, 2015. More interesting news about SG Fleet Group Ltd (ASX:SGF) were released by: Fool.com.Au and their article: “SG Fleet Group Ltd looks cheap after reporting 30% jump in profit” published on February 16, 2015 as well as Fool.com.Au‘s news article titled: “SG Fleet Group shares soar on upbeat guidance” with publication date: February 16, 2016.

SG Fleet Group Limited offers motor vehicle fleet management, vehicle leasing, consumer vehicle finance and salary packaging services. The company has a market cap of $815.73 million. The Company’s divisions include Australia, New Zealand, United Kingdom and Corporate. It has a 17.33 P/E ratio. The Company’s products include driversafety intelligence, Bookingintelligence, vehicle accessories, Fleetintelligence 2.0, Roadside Assistance service, toll management service, fuel management program, and incident and accident management service.

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