The stock of Golden Secret Ventures Ltd (CVE:GGS) gapped down by $0.005 today and has $0.28 target or 13.00% below today’s $0.33 share price. The 6 months technical chart setup indicates high risk for the $9.52 million company. The gap down was reported on Nov, 7 by Barchart.com. If the $0.28 price target is reached, the company will be worth $1.24M 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 71,500 shares traded hands or 45.06% up from the average. Golden Secret Ventures Ltd (CVE:GGS) has risen 6.00% since October 8, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More news for Golden Secret Ventures Ltd (CVE:GGS) were recently published by: Economictimes.Indiatimes.com, which released: “TCS settles Orange County lawsuit for $26 million” on August 24, 2016. Wsj.com‘s article titled: “Malaysia Prime Minister’s Confidant Had Central Role at Troubled 1MDB Fund” and published on April 19, 2016 is yet another important article.
Golden Secret Ventures Ltd. is a Canada junior mineral exploration company. The company has a market cap of $9.52 million. The Firm is engaged in the business of acquiring, exploring, evaluating and, if warranted, developing mineral resource properties in Canada. It currently has negative earnings. The Firm owns approximately three claims located in the Kamloops Mining Division of Central British Columbia, known as the Beaton Claims.
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