The stock of Eurasian Minerals Inc. (CVE:EMX) gapped down by $0.05 today and has $1.04 target or 13.00% below today’s $1.20 share price. The 8 months technical chart setup indicates high risk for the $86.83M company. The gap down was reported on Nov, 3 by Barchart.com. If the $1.04 price target is reached, the company will be worth $11.29M 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 60,100 shares traded hands or 575.89% up from the average. Eurasian Minerals Inc. (CVE:EMX) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
More notable recent Eurasian Minerals Inc. (CVE:EMX) news were published by: Marketwatch.com which released: “Eurasian Minerals Inc.” on February 04, 2012, also Streetinsider.com with their article: “Form 6-K EURASIAN MINERALS INC For: Oct 27” published on October 27, 2016, Twst.com published: “Eurasian Minerals Inc.: Eurasian Minerals Sells the Ophir Property in Utah” on October 17, 2016. More interesting news about Eurasian Minerals Inc. (CVE:EMX) were released by: Marketwired.com and their article: “Eurasian Minerals Regains 100% Control of the Akarca Gold-Silver Project in Turkey” published on October 30, 2015 as well as Marketwired.com‘s news article titled: “Eurasian Minerals Options the Copper King Project to Kennecott and Announces …” with publication date: October 19, 2016.
Eurasian Minerals Inc. is engaged in the business of exploring for metals and minerals properties. The company has a market cap of $86.83 million. The Company’s exploration portfolio consists of properties in North America, Turkey, Europe, Haiti, Australia and New Zealand. It currently has negative earnings. The Firm operates through the resource industry segment.
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