Could IRSA Propiedades Comerciales S.A. (IRCP) Crash Even More? The Stock Just Made 1 Year Low

June 17, 2018 - By reb123z

The stock of IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) hit a new 52-week low and has $29.10 target or 5.00 % below today’s $30.63 share price. The 5 months bearish chart indicates high risk for the $989.74M company. The 1-year low was reported on Jun, 17 by Barchart.com. If the $29.10 price target is reached, the company will be worth $49.49 million 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 4.28% or $1.37 during the last trading session, reaching $30.63. About 5,059 shares traded. IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) has 0.00% since June 17, 2017 and is . It has underperformed by 12.57% the S&P500.

Another recent and important IRSA Propiedades Comerciales S.A. (NASDAQ:IRCP) news was published by Gurufocus.com which published an article titled: “Ruane Cunniff’s 5 New Buys of 1st Quarter” on May 23, 2018.

IRSA Propiedades Comerciales S.A. operates as an investment arm of IRSA Inversiones y Representaciones S.A. The company has market cap of $989.74 million. Alto Palermo S.A. engages in the ownership, acquisition, development, leasing, management, and operation of shopping centers, as well as residential and commercial complexes in Argentina. It has a 2.1 P/E ratio. As of June 30, 2007, it owned and operated ten shopping centers covering a total of 264,995 square meters in Argentina, including six in the Buenos Aires metropolitan area and four in the provinces of Cordoba, Mendoza, Salta, and Santa Fe; and a condominium called Torres de Abasto located in front of the Abasto Shopping Center in Buenos Aires.

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