The stock of Cava Resources Inc (CVE:CVA) gapped down by $0.095 today and has $0.33 target or 12.00% below today’s $0.38 share price. The 9 months technical chart setup indicates high risk for the $6.16 million company. The gap down was reported on Nov, 3 by Barchart.com. If the $0.33 price target is reached, the company will be worth $739,200 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 78,200 shares traded hands or 951.78% up from the average. Cava Resources Inc (CVE:CVA) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
More notable recent Cava Resources Inc (CVE:CVA) news were published by: Marketwatch.com which released: “Cava Resources Inc. Completes Financing” on June 30, 2016, also Stockhouse.com with their article: “Cava Resources Inc. Announces Unit Financing of $1500000” published on October 17, 2016, Stockhouse.com published: “Cava Resources Inc. Announces Financing” on December 16, 2004. More interesting news about Cava Resources Inc (CVE:CVA) were released by: Investorideas.com and their article: “#Mining and #Biotech #Stocks Added to Investorideas.com” published on August 19, 2016 as well as Prnewswire.com‘s news article titled: “Omnibuild Construction Announces Acquisition of Cava Construction” with publication date: November 11, 2015.
Cava Resources Inc. is a development-stage exploration company. The company has a market cap of $6.16 million. The Firm is engaged in the acquisition, exploration and development of mineral and gas and oil properties in Canada. It currently has negative earnings. The Company’s property includes Casa Berardi, Quebec.
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