What’s Propelling Base Resources Ltd to Reach 52-Week High?

 What's Propelling Base Resources Ltd to Reach 52 Week High?

The stock of Base Resources Ltd (LON:BSE) hit a new 52-week high and has GBX 13.65 target or 5.00% above today’s GBX 13.00 share price. The 6 months bullish chart indicates low risk for the GBX company. The 1-year high was reported on Nov, 30 by Barchart.com. If the GBX 13.65 price target is reached, the company will be worth GBX 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 3.70% or GBX 0.5 on November 30, hitting GBX 13. About 130,000 shares traded hands. Base Resources Ltd (LON:BSE) has risen 315.38% since April 29, 2016 and is uptrending. It has outperformed by 310.16% the S&P500.

Base Resources Limited is engaged in the operation of the 100% owned Kwale Mineral Sands Operation in Kenya. The company has a market cap of GBP. The Company’s divisions include other activities and Kwale operations. It currently has negative earnings. The Company’s Kwale Operation is located in Kenya, approximately 50 kilometers south from the port of Mombasa and sells rutile, ilmenite and zircon.

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