The stock of Avino Silver and Gold Mines Ltd (CVE:ASM) gapped up by $0.02 today and has $8.94 target or 181.00% above today’s $3.18 share price. The 8 months technical chart setup indicates low risk for the $142.98 million company. The gap was reported on Nov, 8 by Barchart.com. If the $8.94 price target is reached, the company will be worth $258.79M 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 37,515 shares traded hands. Avino Silver and Gold Mines Ltd (CVE:ASM) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More news for Avino Silver and Gold Mines Ltd (CVE:ASM) were recently published by: Prnewswire.com, which released: “Avino Silver & Gold Mines Ltd. Revises Date of Third Quarter 2016 Financial …” on November 02, 2016. Prnewswire.com‘s article titled: “Avino Silver & Gold Mines Ltd. Third Quarter 2016 Financial Results to be …” and published on October 31, 2016 is yet another important article.
Avino Silver and Gold Mines Ltd is a Canada resource company. The company has a market cap of $142.98 million. It is focused on silver, gold, and copper exploration, extraction and processing. It currently has negative earnings. It extracts resources and processes a bulk concentrate at the San Gonzalo Mine and a copper concentrate from the Avino Mine, both of which are located on the Avino property in Durango, Mexico.
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