Time to Sell ALAMOS GOLD INC CLS A After Today’s Gap Down?

 Time to Sell ALAMOS GOLD INC CLS A After Today's Gap Down?

The stock of ALAMOS GOLD INC CLS A (TSE:AGI) gapped down by $0.12 today and has $9.32 target or 6.00% below today’s $9.91 share price. The 9 months technical chart setup indicates high risk for the $2.78 billion company. The gap down was reported on Nov, 7 by Barchart.com. If the $9.32 price target is reached, the company will be worth $166.80 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 415,334 shares traded hands. ALAMOS GOLD INC CLS A (TSE:AGI) has risen 43.72% since April 1, 2016 and is uptrending. It has outperformed by 41.77% the S&P500.


Out of 9 analysts covering Alamos Gold Inc. (TSE:AGI), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $12.50 is the highest target while $3 is the lowest. The $8.55 average target is -13.72% below today’s ($9.91) stock price. Alamos Gold Inc. has been the topic of 26 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The company was upgraded on Friday, August 12 by National Bank Canada. The firm earned “Outperform” rating on Wednesday, August 12 by Howard Weil. On Wednesday, October 7 the stock rating was downgraded by BMO Capital Markets to “Under Perform”. The stock of ALAMOS GOLD INC CLS A (TSE:AGI) earned “Outperform” rating by Raymond James on Friday, July 24. The stock has “Sector Outperform” rating given by Scotia Capital on Thursday, August 13. Desjardins Securities maintained the stock with “Buy” rating in Friday, August 12 report. The rating was upgraded by IBC to “Sector Perform” on Wednesday, August 19.

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