The stock of Ucore Rare Metals Inc. (CVE:UCU) gapped down by $0.005 today and has $0.27 target or 11.00% below today’s $0.31 share price. The 6 months technical chart setup indicates high risk for the $79.82 million company. The gap down was reported on Oct, 28 by Barchart.com. If the $0.27 price target is reached, the company will be worth $8.78 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%. About 68,500 shares traded hands. Ucore Rare Metals Inc. (CVE:UCU) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More important recent Ucore Rare Metals Inc. (CVE:UCU) news were published by: Marketwired.com which released: “Concept Capital Management Ltd. Acquires Units of Ucore Rare Metals Inc.” on June 09, 2016, also Seekingalpha.com published article titled: “Ucore: 6 Reasons Why We Remain Skeptical”, Juniorminingnetwork.com published: “Ucore Rare Metals Confirms Success of SuperLig®-One Pilot Plant via …” on September 26, 2016. More interesting news about Ucore Rare Metals Inc. (CVE:UCU) was released by: Seekingalpha.com and their article: “What Ucore Isn’t Telling You About MRT (UURAF)” with publication date: April 20, 2015.
Ucore Rare Metals Inc. is a junior exploration and technology company. The company has a market cap of $79.82 million. The Firm is engaged in the exploration and development of rare earth element properties within Canada and the United States. It currently has negative earnings. The Firm is focusing its exploration activities on its Bokan Mountain/Dotson Ridge property in Alaska.
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