Tower Resources (LON:TRP) Stock Price Passes Below 200 Day Moving Average – What’s Next?

Shares of Tower Resources plc (LON:TRP) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 0.03 and traded as low as GBX 0.03. Tower Resources shares last traded at GBX 0.03, with a volume of 31,597,934 shares traded.

Tower Resources Trading Down 3.4%

The business’s 50 day moving average is GBX 0.03 and its two-hundred day moving average is GBX 0.03. The firm has a market capitalization of £9.04 million, a P/E ratio of -2.80 and a beta of 1.12. The company has a quick ratio of 0.06, a current ratio of 0.21 and a debt-to-equity ratio of 0.07.

About Tower Resources

Tower Resources is an African-focused energy company advancing its operation in Cameroon towards production and cash flow, and de-risking attractive exploration licenses in the emerging oil and gas provinces of Namibia and South Africa, where world-class discoveries have recently been made.

The Company’s strategy is to build a balanced portfolio of energy opportunities in Africa across the exploration and production cycle in oil and gas and beyond, in stable jurisdictions that the Company knows well and that offer excellent fiscal terms.