What’s Luna Gold Corp Upside After Today’s Gap Up?

 What's Luna Gold Corp Upside After Today's Gap Up?

The stock of Luna Gold Corp (TSE:LGC) gapped up by $0.1 today and has $4.46 target or 65.00% above today’s $2.70 share price. The 7 months technical chart setup indicates low risk for the $1.07B company. The gap was reported on Nov, 7 by Barchart.com. If the $4.46 price target is reached, the company will be worth $695.50M 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 60,848 shares traded hands or 220.25% up from the average. Luna Gold Corp (TSE:LGC) has risen 116.67% since April 1, 2016 and is uptrending. It has outperformed by 114.71% the S&P500.

More notable recent Luna Gold Corp (TSE:LGC) news were published by: Investingnews.com which released: “Luna Gold Corp. Announces Filing of NI 43-101 Technical Report” on October 03, 2016, also Marketwired.com with their article: “Luna Gold Corp Provides 2014 Guidance and Phase I Expansion Update” published on January 28, 2014, Marketwired.com published: “Luna Gold Announces Closing of Previously Announced Private Placement Financing” on August 29, 2016. More interesting news about Luna Gold Corp (TSE:LGC) were released by: Marketwired.com and their article: “Luna Gold Announces Increase in Previously Announced Private Placement Financing” published on August 16, 2016 as well as Marketwired.com‘s news article titled: “Luna Gold Announces the Retirement of John Blake and the Appointment of Geoff …” with publication date: March 24, 2014.

Luna Gold Corp. is engaged in the exploration, development and operation of gold properties in Brazil. The company has a market cap of $1.07 billion. The Company’s properties and mining activities are located in the state of Maranhao in Brazil. It currently has negative earnings. The Firm is involved in the exploration and redevelopment of its Aurizona gold mine .

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