Stakeholder Gold Corp Gaps Down; Strong Momentum for Sellers

 Stakeholder Gold Corp Gaps Down; Strong Momentum for Sellers

The stock of Stakeholder Gold Corp (CVE:SRC) gapped down by $0.05 today and has $0.61 target or 10.00% below today’s $0.68 share price. The 9 months technical chart setup indicates high risk for the $14.35M company. The gap down was reported on Oct, 28 by Barchart.com. If the $0.61 price target is reached, the company will be worth $1.44 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 47,200 shares traded hands or 44.01% up from the average. Stakeholder Gold Corp (CVE:SRC) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.

More notable recent Stakeholder Gold Corp (CVE:SRC) news were published by: Juniorminingnetwork.com which released: “Stakeholder Gold Corp. Reports Issuance of Stock Options” on January 19, 2015, also Juniorminingnetwork.com with their article: “Stakeholder Gold: Phase I Program at Ballarat Completed – Eastern Zone Anomaly …” published on August 03, 2016, Investingnews.com published: “Stakeholder Gold Announce Update on Phase II Program at Ballarat, RAB Drilling …” on October 06, 2016. More interesting news about Stakeholder Gold Corp (CVE:SRC) were released by: Investorideas.com and their article: “#TSX #Mining News: Stakeholder (TSXV: $SRC) Update on Phase II Program at …” published on October 06, 2016 as well as Stockhouse.com‘s news article titled: “Stakeholder Announces Financing and Board Update” with publication date: October 05, 2016.

Stakeholder Gold Corp. is an exploration-stage junior mineral exploration company. The company has a market cap of $14.35 million. The Company’s principal business activities include the acquisition, exploration and development of mineral rights located in Canada. It currently has negative earnings. The Firm is focusing its exploration activities in Canada, on precious metals properties located in the Yukon, and is evaluating and focusing on acquiring additional properties as capital and opportunities present themselves.

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