Callinex Mines Inc Draws Bullish Attention After Its Gap Up Today

 Callinex Mines Inc Draws Bullish Attention After Its Gap Up Today

The stock of Callinex Mines Inc (CVE:CNX) gapped up by $0.095 today and has $1.36 target or 130.00% above today’s $0.59 share price. The 5 months technical chart setup indicates low risk for the $37.53 million company. The gap was reported on Oct, 18 by Barchart.com. If the $1.36 price target is reached, the company will be worth $48.79 million 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%. About 2.60M shares traded hands or 1481.15% up from the average. Callinex Mines Inc (CVE:CNX) has risen 6.00% since September 18, 2016 and is uptrending. It has outperformed by 0.52% the S&P500.

More notable recent Callinex Mines Inc (CVE:CNX) news were published by: Marketwatch.com which released: “Resource Capital Funds Acquires 18% of Callinex Mines Inc.” on August 06, 2015, also Juniorminingnetwork.com with their article: “Callinex Mines Drills 10.3m Grading 13.1% Zn Eq. Including 4.2m @ 20.8% Zn Eq.” published on October 18, 2016, Marketwired.com published: “Callinex Closes Oversubscribed $4.2 Million Private Placement” on May 13, 2016. More interesting news about Callinex Mines Inc (CVE:CNX) were released by: Juniorminingnetwork.com and their article: “Callinex Mines Revises Drilling Program and Provides Update” published on September 14, 2016 as well as Stockhouse.com‘s news article titled: “Callinex intercepts new mineralization near large target” with publication date: October 11, 2016.

Callinex Mines Inc. is a Canada company, which is engaged in the acquisition, exploration and development of exploration and evaluation of assets. The company has a market cap of $37.53 million. The Firm operates through the exploration and evaluation of its exploration and evaluation assets in Canada segment. It currently has negative earnings. It focuses on carrying out exploration activities on the Flin Flon and Pine Bay properties, for the purpose of identifying copper and zinc rich volcanogenic massive sulfide (VMS) deposits.

CNX Company Profile

CONSOL Energy Inc. (CONSOL Energy), incorporated on October 31, 199, is an integrated energy firm that operates through two divisions: gas and oil exploration and production (E&P) and coal mining. The principal activity of the E&P division is to produce pipeline quality natural gas for sale primarily to natural gas wholesalers. The E&P division’s divisions are Marcellus, Utica, Coalbed Methane, and Other Gas. The Other Gas segment is primarily related to shallow gas and oil production, as well as Upper Devonian Shale, and includes the Company’s purchased gas activities and general and administrative activities, as well as various other activities assigned to the E&P division but not allocated to each individual well type. The principal activities of the Coal division are mining, preparation and marketing of thermal coal, sold primarily to power generators, and metallurgical coal, sold to metal and coke producers. The Coal division’s divisions are Pennsylvania (PA) Operations, Virginia (VA) Operations, and Other Coal. The Company’s E&P division focuses on Appalachian area natural gas and liquids activities, including production, gathering, processing and acquisition of natural gas properties in the Appalachian Basin. The Company’s Coal division focuses on the extraction and preparation of coal in the Appalachian Basin. The Firm also holds over two joint ventures, one with Noble Energy, Inc. (Noble) in the Marcellus Shale and one with a subsidiary of Hess Corporation (Hess) in the Utica Shale.

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