The stock of Leading Edge Materials Corp (CVE:LEM) gapped up by $0.02 today and has $1.00 target or 93.00% above today’s $0.52 share price. The 7 months technical chart setup indicates low risk for the $37.46M company. The gap was reported on Nov, 7 by Barchart.com. If the $1.00 price target is reached, the company will be worth $34.84 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 255,301 shares traded hands or 182.64% up from the average. Leading Edge Materials Corp (CVE:LEM) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Leading Edge Materials Corp (CVE:LEM) news were published by: Marketwired.com which released: “Leading Edge Materials Expands in Critical Raw Materials Sector” on August 29, 2016, also Marketwatch.com with their article: “Leading Edge Materials Stakes the Vena Cobalt Project in Sweden” published on November 02, 2016, Marketwatch.com published: “Leading Edge Materials Announces Grant of Stock Options” on October 14, 2016. More interesting news about Leading Edge Materials Corp (CVE:LEM) were released by: Investingnews.com and their article: “Leading Edge Materials Engages European Lithium Ion Battery Experts” published on October 27, 2016 as well as Investingnews.com‘s news article titled: “Leading Edge Materials Partners with the LEAP Synergy Project in Sweden” with publication date: October 21, 2016.
Leading Edge Materials Corp, formerly Flinders Resources Ltd, is a junior exploration company. The company has a market cap of $37.46 million. The Firm is engaged in the operation of its Woxna Graphite Mine located in central Sweden. It currently has negative earnings. The Woxna Project is located over eight kilometers west-north-west of the town of Edsbyn, northwest of the city of Gavle in Central Sweden.
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