What’s Propelling Atac Resources Ltd. to Increase So Much? The Stock Gaps Up Today

 What's Propelling Atac Resources Ltd. to Increase So Much? The Stock Gaps Up Today

The stock of Atac Resources Ltd. (CVE:ATC) gapped up by $0.01 today and has $1.49 target or 157.00% above today’s $0.58 share price. The 6 months technical chart setup indicates low risk for the $65.49M company. The gap was reported on Nov, 4 by Barchart.com. If the $1.49 price target is reached, the company will be worth $102.82M 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 115,900 shares traded hands or 0.58% up from the average. Atac Resources Ltd. (CVE:ATC) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More notable recent Atac Resources Ltd. (CVE:ATC) news were published by: Marketwired.com which released: “ATAC Resources Ltd. Begins Phase II Diamond Drilling Program at Its Orion Gold …” on August 22, 2016, also Marketwired.com with their article: “ATAC Resources Ltd. Completes $3250000 Financing” published on April 22, 2016, Marketwired.com published: “ATAC Resources Ltd. Sells 50% Interest in the Dawson Gold Joint Venture to …” on August 02, 2016. More interesting news about Atac Resources Ltd. (CVE:ATC) were released by: Marketwired.com and their article: “ATAC Resources Ltd. Appoints Don Poirier to the Board of Directors” published on June 07, 2016 as well as Marketwired.com‘s news article titled: “ATAC Resources Ltd. Provides 2015 Tiger Oxide Gold Deposit Update — Rackla …” with publication date: October 26, 2015.

ATAC Resources Ltd. is an exploration-stage company. The company has a market cap of $65.49 million. The Firm is engaged in the business of exploring for metals and minerals, primarily gold. It currently has negative earnings. The Firm is involved in the exploration and development of its Rackla Gold project, which is located in the Mayo Mining District of central Yukon.

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