The stock of Diamcor Mining Inc. (CVE:DMI) gapped up by $0.01 today and has $3.69 target or 188.00% above today’s $1.28 share price. The 9 months technical chart setup indicates low risk for the $62.51 million company. The gap was reported on Oct, 28 by Barchart.com. If the $3.69 price target is reached, the company will be worth $117.52 million 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 last traded at $1.28 per share. It is down 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More important recent Diamcor Mining Inc. (CVE:DMI) news were published by: Juniorminingnetwork.com which released: “Diamcor Mining Provides Update on Rough Diamond Tenders for Second Fiscal Quarter” on September 26, 2016, also Seekingalpha.com published article titled: “Diamcor – Already Seeing The Per-Carat Benefits Of Maturation, Beginning To …”, Mining.com published: “Tiffany lends Diamcor $4 million to expand diamond project in South Africa” on November 20, 2012. More interesting news about Diamcor Mining Inc. (CVE:DMI) was released by: Prnewswire.com and their article: “Diamcor Comments on Unusual Trading Activity” with publication date: September 29, 2016.
Diamcor Mining Inc. is a junior mining and exploration company. The company has a market cap of $62.51 million. The Firm is engaged in identification, acquisition, exploration, evaluation, operation and development of diamond resource properties with a focus on the mining segment of the diamond industry. It currently has negative earnings. The Company’s geographical divisions include Canada and South Africa.
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