What’s Next for Kennady Diamonds Inc After Today’s Gap Down?

 What's Next for Kennady Diamonds Inc After Today's Gap Down?

The stock of Kennady Diamonds Inc (CVE:KDI) gapped down by $0.1 today and has $3.38 target or 10.00% below today’s $3.75 share price. The 9 months technical chart setup indicates high risk for the $170.54 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $3.38 price target is reached, the company will be worth $17.05M 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 22,537 shares traded hands. Kennady Diamonds Inc (CVE:KDI) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More notable recent Kennady Diamonds Inc (CVE:KDI) news were published by: Seekingalpha.com which released: “Kennady Diamonds: Advancing Kennady North To Production (KDIAF)” on December 13, 2014, also Seekingalpha.com with their article: “Kennady Diamonds Sample Results Lift Investor Confidence (KDIAF)” published on December 27, 2014, Seekingalpha.com published: “Kennady Diamonds Share Price Creeps Higher” on October 23, 2014. More interesting news about Kennady Diamonds Inc (CVE:KDI) were released by: Juniorminingnetwork.com and their article: “Kennady Diamonds Completes Summer Drill Program at Kennady North” published on October 19, 2016 as well as Juniorminingnetwork.com‘s news article titled: “Kennady Diamonds Provides Update on North Summer Drilling Program” with publication date: August 11, 2016.

Kennady Diamonds Inc. is a Canada diamond exploration company. The company has a market cap of $170.54 million. The Firm is a resource company, which is involved in the exploration, discovery, evaluation and development of diamond properties in Canada’s Northwest Territories. It currently has negative earnings. Kennady Diamonds holds interest in over 20 federal leases and approximately 60 claims in the Kennady North diamond project.

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