Bearish Gap Down for Blue Sky Uranium Corp After Worse Fundamentals

 Bearish Gap Down for Blue Sky Uranium Corp After Worse Fundamentals

The stock of Blue Sky Uranium Corp (CVE:BSK) gapped down by $0.045 today and has $0.27 target or 11.00% below today’s $0.30 share price. The 8 months technical chart setup indicates high risk for the $13.37 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $0.27 price target is reached, the company will be worth $1.47 million 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 64,000 shares traded hands or 571.28% up from the average. Blue Sky Uranium Corp (CVE:BSK) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More notable recent Blue Sky Uranium Corp (CVE:BSK) news were published by: Marketwired.com which released: “Blue Sky Closes $1900000 Private Placement” on July 05, 2016, also Marketwired.com with their article: “Blue Sky Announces Change of Auditor” published on March 31, 2016, Stockhouse.com published: “Finding the Uranium to Feed a Nuclear Nation” on November 02, 2016. More interesting news about Blue Sky Uranium Corp (CVE:BSK) were released by: Mining.com and their article: “Fission Uranium’s Randhawa ‘smells a flip'” published on March 06, 2015 as well as Stockhouse.com‘s news article titled: “CanAlaska Uranium (T.CVV) to survey Alberta kimberlite targets” with publication date: August 10, 2016.

Blue Sky Uranium Corp. is a Canada junior mineral exploration company. The company has a market cap of $13.37 million. The Firm is engaged in the business of acquiring, exploring and evaluating natural resource properties in Argentina. It currently has negative earnings. Blue Sky is a uranium exploration firm with over 6,000 square kilometers of tenements.

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