Atlantic Gold Corp Gaps Down; Strong Momentum for Sellers

 Atlantic Gold Corp Gaps Down; Strong Momentum for Sellers

The stock of Atlantic Gold Corp (CVE:AGB) gapped down by $0.01 today and has $0.86 target or 10.00% below today’s $0.95 share price. The 9 months technical chart setup indicates high risk for the $159.46 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $0.86 price target is reached, the company will be worth $15.95M 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 81,363 shares traded hands. Atlantic Gold Corp (CVE:AGB) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

Atlantic Gold Corp (CVE:AGB) Ratings Coverage

Out of 2 analysts covering Atlantic Gold Corp (CVE:AGB), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $0.85 is the highest target while $0.60 is the lowest. The $0.73 average target is -23.16% below today’s ($0.95) stock price. Atlantic Gold Corp has been the topic of 3 analyst reports since August 12, 2015 according to StockzIntelligence Inc. National Bank Canada initiated the shares of AGB in a report on Wednesday, August 12 with “Outperform” rating.

More important recent Atlantic Gold Corp (CVE:AGB) news were published by: Business.Financialpost.com which released: “Podcast: Atlantic Gold Corp CEO Steve Dean on building a gold mine in Nova Scotia” on April 20, 2016, also Marketwired.com published article titled: “Atlantic Gold Secures $115 Million Project Debt Financing for the Development …”, Marketwired.com published: “Atlantic Gold Corporation (Formerly Spur Ventures Inc.) and Atlantic Gold NL …” on August 20, 2014. More interesting news about Atlantic Gold Corp (CVE:AGB) was released by: Marketwired.com and their article: “Atlantic Gold Announces Receipt of Fixed Price Proposal for EPC Contract With …” with publication date: February 23, 2016.

Atlantic Gold Corporation is a Canada exploration and development gold mining company. The company has a market cap of $159.46 million. The Firm is focused on advancing the development of its Nova Scotia properties, including its Moose River Consolidated Project , Cochrane Hill and Fifteen Mile Stream gold projects, as well as continuing to review potential acquisitions and investment opportunities. It currently has negative earnings. The Company’s properties include Touquoy Gold Project located at the former village of Moose River Gold Mines; Beaver Dam Property located in Halifax County, central Nova Scotia; Cochrane Hill Gold Project located south of the town of Antigonish, and Fifteen Mile Stream property located in eastern Halifax County, Nova Scotia.

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