The stock of Alacer Gold Corp (TSE:ASR) gapped down by $0.02 today and has $2.46 target or 9.00% below today’s $2.70 share price. The 8 months technical chart setup indicates high risk for the $805.53M company. The gap down was reported on Nov, 7 by Barchart.com. If the $2.46 price target is reached, the company will be worth $72.50M 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 551,512 shares traded hands. Alacer Gold Corp (TSE:ASR) has risen 15.73% since April 1, 2016 and is uptrending. It has outperformed by 13.77% the S&P500.
Alacer Gold Corp (TSE:ASR) Ratings Coverage
Out of 3 analysts covering Alacer Gold (TSE:ASR), 1 rate it a “Buy”, 1 “Sell”, while 1 “Hold”. This means 33% are positive. Alacer Gold has been the topic of 12 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by Scotia Capital given on Tuesday, June 28. The rating was maintained by RBC Capital Markets on Thursday, May 19 with “Sector Perform”. The firm earned “Underperform” rating on Wednesday, October 7 by BMO Capital Markets. Scotia Capital maintained Alacer Gold Corp (TSE:ASR) rating on Friday, July 22. Scotia Capital has “Outperform” rating and $4.50 price target. The firm has “Sector Perform” rating given on Thursday, December 10 by RBC Capital Markets. The rating was maintained by Scotia Capital on Thursday, October 27 with “Outperform”.
More important recent Alacer Gold Corp (TSE:ASR) news were published by: Theglobeandmail.com which released: “The Globe and Mail” on August 14, 2009, also Seekingalpha.com published article titled: “Alacer Gold: I Was Not Expecting This”, Seekingalpha.com published: “Alacer Gold – Disappointing Q3 Earnings” on October 26, 2016. More interesting news about Alacer Gold Corp (TSE:ASR) was released by: Fool.com.Au and their article: “Here’s why Alacer Gold Corp â€“ CDI rocketed up 10%” with publication date: September 22, 2014.
Alacer Gold Corp. is an intermediate gold mining company. The company has a market cap of $805.53 million. The Firm operates in the segment of mining, development and exploration of mineral deposits in Turkey. It has a 24.3 P/E ratio. The Company’s principal products are gold, copper and silver.
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