Is Selling Minaean SP Construction Corp Here a Winning Strategy?

 Is Selling Minaean SP Construction Corp Here a Winning Strategy?

The stock of Minaean SP Construction Corp (CVE:MSP) hit a new 52-week low and has $0.29 target or 6.00% below today’s $0.31 share price. The 6 months bearish chart indicates high risk for the $8.40 million company. The 1-year low was reported on Dec, 1 by Barchart.com. If the $0.29 price target is reached, the company will be worth $504,000 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. About 88,250 shares traded hands or 980.17% up from the average. Minaean SP Construction Corp (CVE:MSP) has risen 6.00% since November 1, 2016 and is uptrending. It has outperformed by 0.07% the S&P500.

Minaean SP Construction Corp, formerly Minaean International Corp., is a Canada firm engaged in the steel construction industry. The company has a market cap of $8.40 million. The Firm develops and makes light gauge steel components for the construction industry and modular metal buildings for commercial, residential and institutional usage. It has a 10.33 P/E ratio. The Firm is active in Canada, India and internationally.

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