The stock of Seabridge Gold Inc (TSE:SEA) gapped down by $0.13 today and has $13.21 target or 8.00% below today’s $14.36 share price. The 7 months technical chart setup indicates high risk for the $772.94M company. The gap down was reported on Nov, 7 by Barchart.com. If the $13.21 price target is reached, the company will be worth $61.84 million 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 53,266 shares traded hands. Seabridge Gold Inc (TSE:SEA) has risen 2.00% since April 1, 2016 and is uptrending. It has outperformed by 0.05% the S&P500.
Seabridge Gold Inc (TSE:SEA) Ratings Coverage
Out of 2 analysts covering Seabridge Gold (TSE:SEA), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. $15.50 is the highest target while $15.50 is the lowest. The $15.50 average target is 7.94% above today’s ($14.36) stock price. Seabridge Gold has been the topic of 2 analyst reports since October 22, 2015 according to StockzIntelligence Inc.
More important recent Seabridge Gold Inc (TSE:SEA) news were published by: Globenewswire.com which released: “Seabridge Gold Files KSM Project Technical Report” on November 07, 2016, also Quotes.Wsj.com published article titled: “News Seabridge Gold Inc.SA”, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on June 05, 2009. More interesting news about Seabridge Gold Inc (TSE:SEA) was released by: Seekingalpha.com and their article: “Seabridge Gold: Deep Kerr Falls Short” with publication date: October 18, 2016.
Seabridge Gold Inc. is a development-stage firm engaged in the acquisition and exploration of gold properties located in North America. The company has a market cap of $772.94 million. The Firm is focused on acquiring, exploring and developing gold deposits. It currently has negative earnings. The Firm owns over five properties with gold resources and its material properties are its Kerr-Sulphurets-Mitchell (KSM) Project and its Courageous Lake Project.
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