The stock of Coronet Metals Inc (CVE:CRF) gapped down by $0.01 today and has $0.35 target or 12.00% below today’s $0.40 share price. The 5 months technical chart setup indicates high risk for the $6.73M company. The gap down was reported on Nov, 7 by Barchart.com. If the $0.35 price target is reached, the company will be worth $807,600 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 40,000 shares traded hands. Coronet Metals Inc (CVE:CRF) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More important recent Coronet Metals Inc (CVE:CRF) news were published by: Globenewswire.com which released: “First Liberty Power Secures Refining Capacity in the United States” on September 29, 2014, also Stockhouse.com published article titled: “Coronet Announces Drilling Program At White Caps Gold Mining Project”, Themiddlemarket.com published: “Middle-Market M&A Bounced Back in October” on November 04, 2014. More interesting news about Coronet Metals Inc (CVE:CRF) was released by: Prnewswire.com and their article: “LB Foster Company to Acquire Portec Rail Products” with publication date: February 17, 2010.
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