Petrel Resources (LON:PET) Share Price Passes Above 200 Day Moving Average – Should You Sell?

by · The Cerbat Gem

Shares of Petrel Resources Plc (LON:PET – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1.06 ($0.01) and traded as high as GBX 1.09 ($0.01). Petrel Resources shares last traded at GBX 1.08 ($0.01), with a volume of 370,064 shares changing hands.

Petrel Resources Stock Down 4.8 %

The stock has a 50-day moving average of GBX 1.27 and a 200 day moving average of GBX 1.06. The company has a market capitalization of £2.21 million, a PE ratio of -4.61 and a beta of 0.57.

Petrel Resources Company Profile

(Get Free Report)

Petrel Resources Plc, together with its subsidiaries, operates as an oil and gas exploration company. The company holds a 100% interest in the Frontier exploration license 3/14 located in Ireland. It also holds a 30% working interest in the Tano 2A Block covering an area of 1,532 square kilometers in Ghana; and holds interest in the Western Desert Block 6 located in Iraq.

See Also