The stock of Golden Predator Mining Corp (CVE:GPY) gapped down by $0.02 today and has $0.81 target or 11.00% below today’s $0.91 share price. The 6 months technical chart setup indicates high risk for the $64.57M company. The gap down was reported on Sep, 14 by Barchart.com. If the $0.81 price target is reached, the company will be worth $7.10 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 4.21% or $0.04 on September 13, hitting $0.91. About 50,987 shares traded hands. Golden Predator Mining Corp (CVE:GPY) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Golden Predator Mining Corp., formerly Northern Tiger Resources, Inc., is an exploration-stage company. The company has a market cap of $64.57 million. The Firm is a resource exploration firm focused on gold and copper exploration in the Yukon and Nevada. It currently has negative earnings. The Firm operates in two divisions, which is the exploration and development of resource properties in Canada and the United States.
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