Alphamin Resources Corp. Gap Up Today Means Lower Risks Forward

 Alphamin Resources Corp. Gap Up Today Means Lower Risks Forward

The stock of Alphamin Resources Corp. (CVE:AFM) gapped up by $0.005 today and has $0.71 target or 152.00% above today’s $0.28 share price. The 5 months technical chart setup indicates low risk for the $109.72M company. The gap was reported on Oct, 28 by Barchart.com. If the $0.71 price target is reached, the company will be worth $166.77M 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 451,500 shares traded hands or 1904.26% up from the average. Alphamin Resources Corp. (CVE:AFM) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.

More notable recent Alphamin Resources Corp. (CVE:AFM) news were published by: Marketwired.com which released: “Alphamin Resources Corp.: Granting of Mining License” on February 09, 2015, also Bloomberg.com with their article: “Congo’s War-Torn East Earmarked for $123 Million Tin Mine” published on March 01, 2016, Bloomberg.com published: “Mountain of Tin Draws Investors to World’s Biggest Untapped Site” on May 03, 2016. More interesting news about Alphamin Resources Corp. (CVE:AFM) were released by: Marketwired.com and their article: “Alphamin Announces Completion of US$8.5 Million Private Placement” published on October 17, 2016 as well as Marketwired.com‘s news article titled: “Alphamin Announces Positive Feasibility Study Results for 84.55% Owned Bisie …” with publication date: February 23, 2016.

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