Sentry Select Primary Metals Corp. Gaps Down; Strong Momentum for Sellers

 Sentry Select Primary Metals Corp. Gaps Down; Strong Momentum for Sellers

The stock of Sentry Select Primary Metals Corp. (TSE:PME) gapped down by $0.06 today and has $2.97 target or 14.00% below today’s $3.45 share price. The 9 months technical chart setup indicates high risk for the $53.73M company. The gap down was reported on Nov, 7 by Barchart.com. If the $2.97 price target is reached, the company will be worth $7.52M 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 42,900 shares traded hands or 92.59% up from the average. Sentry Select Primary Metals Corp. (TSE:PME) has risen 27.05% since April 1, 2016 and is uptrending. It has outperformed by 25.09% the S&P500.

Sentry Select Primary Metals Corp. provides investors with an opportunity to invest in an actively managed portfolio consisting primarily of securities of issuers that are engaged in the production and/or exploration of metals and minerals, with a focus on gold issuers. The company has a market cap of $53.73 million. The Fund’s investment objective is to provide the holders of Class A Shares of the Fund with long-term capital appreciation. It has a 2.51 P/E ratio. The Fund invests in sectors, including gold and silver, cash and cash equivalents, and precious metals and minerals.

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