Is Selling 52-Week Stock Like TransAlta Corporation (USA) a Winning Strategy?

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The stock of TransAlta Corporation (USA) (NYSE:TAC) hit a new 52-week low and has $2.89 target or 6.00% below today’s $3.07 share price. The 5 months bearish chart indicates high risk for the $884.22M company. The 1-year low was reported on Dec, 12 by If the $2.89 price target is reached, the company will be worth $53.05M 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 1.29% or $0.04 on December 11, hitting $3.07. About 147,290 shares traded hands. TransAlta Corporation (USA) (NYSE:TAC) has declined 67.20% since May 11, 2015 and is downtrending. It has underperformed by 62.79% the S&P500.

Out of 5 analysts covering TransAlta (NYSE:TAC), 3 rate it “Buy”, 1 “Sell”, while 2 “Hold”. This means 50% are positive. TransAlta was the topic in 5 analyst reports since August 24, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the stock on November 23 to “Sector Perform” rating.

According to Zacks Investment Research, “TransAlta is Canada’s largest non-regulated electric generation and marketing company.” Get a free copy of the Zacks research report on TransAlta Corporation (USA) (TAC).

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