The stock of Southern Silver Exploration Corp (CVE:SSV) gapped up by $0.005 today and has $1.08 target or 171.00% above today’s $0.40 share price. The 5 months technical chart setup indicates low risk for the $34.33 million company. The gap was reported on Oct, 28 by Barchart.com. If the $1.08 price target is reached, the company will be worth $58.70M 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 109,675 shares traded hands. Southern Silver Exploration Corp (CVE:SSV) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More notable recent Southern Silver Exploration Corp (CVE:SSV) news were published by: Prnewswire.com which released: “StockNewsNow.com Publishes New SNNLive Video Interview with Southern Silver …” on October 11, 2016, also Marketwatch.com with their article: “Southern Silver Reports Progress on Cerro Las Minitas and Oro Projects” published on September 28, 2016, Marketwatch.com published: “Southern Silver Exploration Corp.” on April 21, 2011. More interesting news about Southern Silver Exploration Corp (CVE:SSV) were released by: Marketwired.com and their article: “Electrum Global Holdings L.P. Acquires Securities of Southern Silver …” published on March 08, 2016 as well as Etfdailynews.com‘s news article titled: “These Six Mining Stocks Could be the Next Acquisition Targets” with publication date: July 22, 2016.
Southern Silver Exploration Corp. is an exploration-stage company. The company has a market cap of $34.33 million. The Company’s principal business activities include the acquisition, exploration and development of natural resource properties for enhancement of value and disposition pursuant to sales agreements or development by way of third-party option and/or joint venture agreements. It currently has negative earnings. The Company’s properties include Cerro Las Minitas and Oro.
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