Is Selling Filo Mining Corp Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling Filo Mining Corp Here a Winning Strategy? The Stock Just Gapped Down

The stock of Filo Mining Corp (CVE:FIL) gapped down by $0.04 today and has $1.72 target or 12.00% below today’s $1.96 share price. The 8 months technical chart setup indicates high risk for the $98.97M company. The gap down was reported on Nov, 4 by Barchart.com. If the $1.72 price target is reached, the company will be worth $11.88M 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 7,051 shares traded hands. Filo Mining Corp (CVE:FIL) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More notable recent Filo Mining Corp (CVE:FIL) news were published by: Marketwatch.com which released: “NGEX Resources Inc. and Filo Mining Corp. Announce Closing of Spin-Out of Filo …” on August 16, 2016, also Globenewswire.com with their article: “Nasdaq Stockholm Welcomes Filo Mining Corp. to First North” published on September 06, 2016, Marketwatch.com published: “NGEx Resources Inc. and Filo Mining Corp. Announce TSX Venture Exchange …” on August 26, 2016. More interesting news about Filo Mining Corp (CVE:FIL) were released by: Marketwatch.com and their article: “Filo Mining Corp.” published on September 01, 2016 as well as Marketwired.com‘s news article titled: “Filo Mining Launches With Initial Resource Base of 150 Million Ounces of …” with publication date: September 19, 2016.

Filo Mining Corp is a Canada-based mineral exploration company. The company has a market cap of $98.97 million. The Firm has interest in the Filo del Sol Project located in South America. It currently has negative earnings. The Filo del Sol Project is located on the border of Argentina’s San Juan Province and Chile’s adjacent Region III.

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