The stock of Malbex Resources Inc (CVE:MBG) gapped down by $0.015 today and has $0.26 target or 12.00% below today’s $0.30 share price. The 6 months technical chart setup indicates high risk for the $4.40M company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.26 price target is reached, the company will be worth $528,000 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 35,000 shares traded hands or 78.43% up from the average. Malbex Resources Inc (CVE:MBG) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Malbex Resources Inc (CVE:MBG) news were published by: Marketwired.com which released: “Malbex Resources Inc. Grants Share Options” on May 10, 2016, also Marketwired.com with their article: “Malbex Resources Inc. Completes the Transfer of Its Interest in the Del Carmen …” published on April 06, 2015, Marketwired.com published: “Malbex Resources Inc. Agrees to Transfer its Interest in the Del Carmen …” on March 06, 2015. More interesting news about Malbex Resources Inc (CVE:MBG) were released by: Midasletter.com and their article: “Malbex Resources CEO Tim Warman Discusses Gold Exploration in Argentina on …” published on April 16, 2012 as well as Smallcapnetwork.com‘s news article titled: “Argentina Grabs YPF SA (YPF): Small Cap Mining Stocks With Exposure to the …” with publication date: April 23, 2012.
Malbex Resources Inc. is a Canada-based company, which is focused on identifying a new project. The company has a market cap of $4.40 million. The Company’s segment is engaged in the acquisition and exploration of precious metals projects. It currently has negative earnings. The Firm has determined not to limit its search for a new project to the mining and resource sector and is broadening its search to other opportunities where it may be possible to create shareholder value.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.