Will Diamcor Mining Inc. Short Squeeze Soon? The Stock Just Gapped Up

 Will Diamcor Mining Inc. Short Squeeze Soon? The Stock Just Gapped Up

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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