It Seems Newcrest Mining Limited Will Go Up. Have Big Gap Up Today

 It Seems Newcrest Mining Limited Will Go Up. Have Big Gap Up Today

The stock of Newcrest Mining Limited (ASX:NCM) gapped up by $0.24 today and has $27.97 target or 24.00% above today’s $22.56 share price. The 5 months technical chart setup indicates low risk for the $17.30B company. The gap was reported on Oct, 31 by Barchart.com. If the $27.97 price target is reached, the company will be worth $4.15 billion 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 increased 5.32% or $1.14 on October 31, hitting $22.56. About 4.77 million shares traded hands or 41.12% up from the average. Newcrest Mining Limited (ASX:NCM) has risen 32.78% since April 4, 2016 and is uptrending. It has outperformed by 29.31% the S&P500.

More notable recent Newcrest Mining Limited (ASX:NCM) news were published by: Fool.com.Au which released: “Why I’m avoiding Newcrest Mining Limited” on October 04, 2016, also Fool.com.Au with their article: “Newcrest Mining Limited is a Brexit winner: Are its shares a buy?” published on October 27, 2016, Fool.com.Au published: “Why now might be a bad time to buy Newcrest Mining Limited shares” on September 16, 2016. More interesting news about Newcrest Mining Limited (ASX:NCM) were released by: Bloomberg.com and their article: “Newcrest Full-Year Profit Falls 24% on Lower Gold Prices” published on August 14, 2016 as well as Fool.com.Au‘s news article titled: “3 reasons Newcrest Mining Limited shares could move higher” with publication date: July 21, 2016.

Newcrest Mining Limited is a gold mining company. The company has a market cap of $17.30 billion. The Firm is engaged in exploration, mine development, mine operations, and the sale of gold and gold/copper concentrate. It has a 39.77 P/E ratio. It owns and operates a portfolio of mines and a pipeline of brownfield and greenfield exploration projects.

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