The stock of Roxgold Inc (CVE:ROG) gapped down by $0.01 today and has $1.29 target or 6.00% below today’s $1.37 share price. The 9 months technical chart setup indicates high risk for the $503.43 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $1.29 price target is reached, the company will be worth $30.21 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 219,736 shares traded hands. Roxgold Inc (CVE:ROG) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
More notable recent Roxgold Inc (CVE:ROG) news were published by: Marketwatch.com which released: “Appian Acquires Units of Roxgold Inc.” on November 04, 2014, also Marketwired.com with their article: “Roxgold Inc. Announces Closing of C$23 Million Bought Deal” published on March 08, 2016, Marketwired.com published: “Appian Acquires Shares of Roxgold Inc.” on May 16, 2014. More interesting news about Roxgold Inc (CVE:ROG) were released by: Seekingalpha.com and their article: “Roxgold Giving Investors A Second Chance To Get In” published on May 26, 2016 as well as Mining.com‘s news article titled: “Rapid ramp-up at Roxgold’s Yaramoko” with publication date: September 13, 2016.
Roxgold Inc. is a Canada-based gold exploration and development company. The company has a market cap of $503.43 million. The Firm is engaged in the business of acquiring, exploring and evaluating mineral properties, and developing them through to construction or disposing them when the evaluation is completed. It currently has negative earnings. The Firm has a development project, the Yaramoko Gold Project, which is located in Burkina Faso, West Africa.
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