The stock of Canada Zinc Metals Corp. (CVE:CZX) gapped up by $0.01 today and has $1.16 target or 186.00% above today’s $0.41 share price. The 8 months technical chart setup indicates low risk for the $64.11 million company. The gap was reported on Sep, 14 by Barchart.com. If the $1.16 price target is reached, the company will be worth $119.24M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. The stock increased 3.85% or $0.015 on September 13, hitting $0.405. About 778,185 shares traded hands or 268.46% up from the average. Canada Zinc Metals Corp. (CVE:CZX) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Canada Zinc Metals Corp. is a Canada firm engaged in the exploration and development of mineral properties in Canada. The company has a market cap of $64.11 million. The Firm has mining interests in properties located in British Columbia and the Northwest Territories. It currently has negative earnings. The Firm owns land in mineral belt called the Kechika Trough, which hosts Zinc-Lead-Silver base metals deposits including the Company’s Cardiac Creek deposit.
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