Nevada Exploration Inc. Has Another Very Weak Trading Session Recording a Gap Down

 Nevada Exploration Inc. Has Another Very Weak Trading Session Recording a Gap Down

The stock of Nevada Exploration Inc. (CVE:NGE) gapped down by $0.005 today and has $0.39 target or 11.00% below today’s $0.44 share price. The 7 months technical chart setup indicates high risk for the $21.09 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $0.39 price target is reached, the company will be worth $2.32M 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 33,720 shares traded hands. Nevada Exploration Inc. (CVE:NGE) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More notable recent Nevada Exploration Inc. (CVE:NGE) news were published by: Investingnews.com which released: “Nevada Exploration Inc. Announces Closing of Oversubscribed Financing” on July 12, 2016, also Juniorminingnetwork.com with their article: “Nevada Exploration Inc. Letter to Shareholders” published on January 19, 2016, Marketwired.com published: “Nevada Exploration Inc. Completes Commissioning of Its Scorpion Drill Rig to …” on October 31, 2016. More interesting news about Nevada Exploration Inc. (CVE:NGE) were released by: Marketwired.com and their article: “Nevada Exploration Inc. Doubles its Land Holdings at Grass Valley Project” published on September 26, 2016 as well as Prnewswire.com‘s news article titled: “Ely Gold Announces Property Exchange with Columbus Gold” with publication date: November 04, 2016.

Nevada Exploration Inc. is in the business of acquiring and exploring mineral properties. The company has a market cap of $21.09 million. The Firm is engaged in gold exploration in Nevada, the United States. It currently has negative earnings. The Company’s properties include Grass Valley , South Grass Valley (SGV), Kelly Creek (KC), Hot Pot (HP) and Awakening (AW).

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