Is Select Sands Corp’s Fuel Running Low? The Stock Just Gapped Down


The stock of Select Sands Corp (CVE:SNS) gapped down by $0.005 today and has $0.39 target or 10.00% below today’s $0.44 share price. The 7 months technical chart setup indicates high risk for the $26.63M company. The gap down was reported on Sep, 14 by If the $0.39 price target is reached, the company will be worth $2.66 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 7.45% or $0.035 on September 13, hitting $0.435. About 213,566 shares traded hands. Select Sands Corp (CVE:SNS) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.

Select Sands Corp. is an industrial silica product company. The company has a market cap of $26.63 million. The Company’s primary business is an advanced-stage silica sand project located in Arkansas, United States. It currently has negative earnings. The Firm is focused on developing silica sand project to enable commercial silica sand sales to industrial and energy customers.

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