The stock of Golden Peak Minerals Inc (CVE:GP) gapped up by $0.035 today and has $0.49 target or 66.00% above today’s $0.30 share price. The 6 months technical chart setup indicates low risk for the $722,422 company. The gap was reported on Sep, 14 by Barchart.com. If the $0.49 price target is reached, the company will be worth $476,799 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 28.26% or $0.065 on September 13, hitting $0.295. About 45,000 shares traded hands or 321328.57% up from the average. Golden Peak Minerals Inc (CVE:GP) has risen 6.00% since August 15, 2016 and is uptrending. It has underperformed by 10.49% the S&P500.
Golden Peak Minerals Inc. is a Canada junior mineral exploration company. The company has a market cap of $722,422. The Firm is engaged in the business of acquiring, exploring and evaluating natural resource properties. It currently has negative earnings. The Firm is focused on its financial resources on conducting an exploration program on the Columbia Shear Group Property.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.