The stock of Mongolia Growth Group Ltd (CVE:YAK) gapped up by $0.01 today and has $0.67 target or 102.00% above today’s $0.33 share price. The 8 months technical chart setup indicates low risk for the $12.19 million company. The gap was reported on Nov, 4 by Barchart.com. If the $0.67 price target is reached, the company will be worth $12.43M 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 43,500 shares traded hands or 70.75% up from the average. Mongolia Growth Group Ltd (CVE:YAK) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
More notable recent Mongolia Growth Group Ltd (CVE:YAK) news were published by: Businesswire.com which released: “Mongolia Growth Group Ltd. Announces the Appointment of Paul Byrne as CEO to …” on March 03, 2014, also Seekingalpha.com with their article: “Mongolia Growth Group: The Way To Play Mongolian Economic Recovery” published on July 20, 2016, Gurufocus.com published: “Interview with Harris Kupperman of Mongolia Growth Group” on January 15, 2015. More interesting news about Mongolia Growth Group Ltd (CVE:YAK) were released by: Stockhouse.com and their article: “Mongolia Growth Group Announces AGM Results” published on June 17, 2015 as well as Seekingalpha.com‘s news article titled: “Mongolia Growth Group Raises Private Funds To Deploy In Country’s Real Estate …” with publication date: November 25, 2011.
Mongolia Growth Group Ltd. is a Canada real estate investment and development company. The company has a market cap of $12.19 million. The Firm owns commercial investment property assets in Ulaanbaatar, Mongolia. It currently has negative earnings. The Firm operates through two divisions: Investment Property Operations and Corporate.
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