The stock of Alphamin Resources Corp. (CVE:AFM) gapped up by $0.01 today and has $0.44 target or 42.00% above today’s $0.31 share price. The 8 months technical chart setup indicates low risk for the $137.17 million company. The gap was reported on Nov, 7 by Barchart.com. If the $0.44 price target is reached, the company will be worth $57.61 million 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 400,000 shares traded hands or 553.41% up from the average. Alphamin Resources Corp. (CVE:AFM) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Alphamin Resources Corp. (CVE:AFM) news were published by: Marketwired.com which released: “Alphamin Resources Corp.: Granting of Mining License” on February 09, 2015, also Marketwired.com with their article: “Alphamin Resources Corp.: Bisie Project Update” published on February 02, 2015, Bloomberg.com published: “Congo’s War-Torn East Earmarked for $123 Million Tin Mine” on March 01, 2016. More interesting news about Alphamin Resources Corp. (CVE:AFM) were released by: Bloomberg.com and their article: “Mountain of Tin Draws Investors to World’s Biggest Untapped Site” published on May 03, 2016 as well as Marketwired.com‘s news article titled: “Alphamin Announces Positive Feasibility Study Results for 84.55% Owned Bisie …” with publication date: February 23, 2016.
Alphamin Resources Corp. is a Mauritius firm engaged in tin exploration and mining business. The company has a market cap of $137.17 million. The Firm is engaged in the business of locating, acquiring, exploring, evaluating and, if warranted, developing mineral properties. It currently has negative earnings. The Company’s exploration and evaluation assets are located in the Democratic Republic of the Congo.
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