The stock of Nevada Exploration Inc. (CVE:NGE) gapped up by $0.005 today and has $1.26 target or 180.00% above today’s $0.45 share price. The 5 months technical chart setup indicates low risk for the $21.57 million company. The gap was reported on Nov, 3 by Barchart.com. If the $1.26 price target is reached, the company will be worth $38.83M 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 46,100 shares traded hands or 15.70% up from the average. Nevada Exploration Inc. (CVE:NGE) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
More notable recent Nevada Exploration Inc. (CVE:NGE) news were published by: Investingnews.com which released: “Nevada Exploration Inc. Announces Closing of Oversubscribed Financing” on July 12, 2016, also Juniorminingnetwork.com with their article: “Nevada Exploration Inc. Letter to Shareholders” published on January 19, 2016, Marketwired.com published: “Nevada Exploration Inc. Completes Commissioning of Its Scorpion Drill Rig to …” on October 31, 2016. More interesting news about Nevada Exploration Inc. (CVE:NGE) were released by: Marketwired.com and their article: “Nevada Exploration Inc. Doubles its Land Holdings at Grass Valley Project” published on September 26, 2016 as well as Marketwatch.com‘s news article titled: “Nevada Sunrise and Advantage Lithium intersect lithium brines ranging up to …” with publication date: November 01, 2016.
Nevada Exploration Inc. is in the business of acquiring and exploring mineral properties. The company has a market cap of $21.57 million. The Firm is engaged in gold exploration in Nevada, the United States. It currently has negative earnings. The Company’s properties include Grass Valley , South Grass Valley (SGV), Kelly Creek (KC), Hot Pot (HP) and Awakening (AW).
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