The stock of Wealth Minerals Ltd (CVE:WML) gapped down by $0.06 today and has $1.04 target or 11.00% below today’s $1.17 share price. The 7 months technical chart setup indicates high risk for the $79.67M company. The gap down was reported on Nov, 4 by Barchart.com. If the $1.04 price target is reached, the company will be worth $8.76M 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 200,413 shares traded hands. Wealth Minerals Ltd (CVE:WML) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
More notable recent Wealth Minerals Ltd (CVE:WML) news were published by: Business.Financialpost.com which released: “Podcast: Wealth Minerals Ltd CEO Henk Van Alphen on Chilean lithium salars” on September 02, 2016, also Juniorminingnetwork.com with their article: “Wealth Minerals Arranges $2.17 Million Non-Brokered Private Placement” published on September 10, 2016, Juniorminingnetwork.com published: “Wealth Minerals Signs LOI to Acquire Quisco Project, Salar de Quisquiro, Chile” on July 29, 2016. More interesting news about Wealth Minerals Ltd (CVE:WML) were released by: Juniorminingnetwork.com and their article: “Wealth Minerals: Positive Soil Sampling Results for Coronado Au-Ag-Cu Project …” published on July 05, 2016 as well as Juniorminingnetwork.com‘s news article titled: “Wealth Minerals Closes $4 Million Non-Brokered Private Placement” with publication date: November 02, 2016.
Wealth Minerals Ltd. is a junior mineral resource exploration company. The company has a market cap of $79.67 million. The Firm operates through mineral resources industry segment. It currently has negative earnings. It focuses on the acquisition, exploration and development of mineral properties primarily prospective for precious metals and lithium.
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