The stock of VE GOLD CDI 1:1 (ASX:GDX) gapped up by $0.65 today and has $75.16 target or 138.00% above today’s $31.58 share price. The 5 months technical chart setup indicates low risk for the $ company. The gap was reported on Oct, 19 by Barchart.com. If the $75.16 price target is reached, the company will be worth $ 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 2.43% or $0.75 on October 19, hitting $31.58. About 34,758 shares traded hands or 195.16% up from the average. VE GOLD CDI 1:1 (ASX:GDX) has risen 13.53% since March 8, 2016 and is uptrending. It has outperformed by 7.99% the S&P500.
More notable recent VE GOLD CDI 1:1 (ASX:GDX) news were published by: Fool.com.Au which released: “Why these 4 ASX shares got crushed today” on September 14, 2016, also Fool.com.Au with their article: “3 stocks at 52-week lows â€“ can they turn it around?” published on July 24, 2015, Fool.com.Au published: “Will gold rise if Greece exits the Eurozone?” on June 02, 2015. More interesting news about VE GOLD CDI 1:1 (ASX:GDX) were released by: Marketwatch.com and their article: “Endeavour Mining Announces Details of Share Consolidation and ASX Delisting” published on November 30, 2015 as well as Fool.com.Au‘s news article titled: “ASX 200 set to make it 5 in a row: 13 shares you need to watch today” with publication date: July 28, 2016.
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