The stock of Marlin Gold Mining Ltd (CVE:MLN) gapped up by $0.02 today and has $1.21 target or 95.00% above today’s $0.62 share price. The 8 months technical chart setup indicates low risk for the $113.40 million company. The gap was reported on Nov, 3 by Barchart.com. If the $1.21 price target is reached, the company will be worth $107.73 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%. About 23,700 shares traded hands. Marlin Gold Mining Ltd (CVE:MLN) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
More notable recent Marlin Gold Mining Ltd (CVE:MLN) news were published by: Marketwired.com which released: “Wexford Updates Disclosure of Ownership of Marlin Gold Mining Ltd.” on May 17, 2016, also Marketwired.com with their article: “Marlin Gold Mining Ltd. Announces Intention to Commence a Normal Course Issuer Bid” published on February 23, 2016, Marketwatch.com published: “Marlin Gold Mining Ltd.” on November 21, 2013. More interesting news about Marlin Gold Mining Ltd (CVE:MLN) were released by: Marketwired.com and their article: “Marlin Gold Mining Ltd. Completes Sale of Non-Core El Compas Gold-Silver …” published on October 30, 2015 as well as Marketwired.com‘s news article titled: “Marlin Gold Mining Ltd. Closes Streaming Transaction to Launch Sailfish …” with publication date: July 10, 2014.
Marlin Gold Mining Ltd. is engaged in the exploration for, development of and production of gold in Mexico, silver in Arizona and acquiring royalty streaming agreements. The company has a market cap of $113.40 million. The Firm operates through the production of gold and exploration of resources segment. It currently has negative earnings. The Company’s principal product is gold dore with the refined gold bullion sold in the London spot market by the subsidiary in Barbados.
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