The stock of Golden Arrow Resources Corp (CVE:GRG) gapped up by $0.02 today and has $2.35 target or 176.00% above today’s $0.85 share price. The 5 months technical chart setup indicates low risk for the $78.10 million company. The gap was reported on Nov, 8 by Barchart.com. If the $2.35 price target is reached, the company will be worth $137.46 million 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 83,344 shares traded hands. Golden Arrow Resources Corp (CVE:GRG) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More notable recent Golden Arrow Resources Corp (CVE:GRG) news were published by: Seekingalpha.com which released: “Betting On A Joint Venture Between Golden Arrow Resources And Silver Standard …” on May 16, 2016, also Seekingalpha.com with their article: “Why Did Silver Standard Resources Acquire A Small Stake In Golden Arrow Resources?” published on June 13, 2015, Seekingalpha.com published: “Golden Arrow: Chinchillas Could Be Less Attractive For Silver Standard …” on September 22, 2015. More interesting news about Golden Arrow Resources Corp (CVE:GRG) were released by: Marketwatch.com and their article: “Golden Arrow Initiates Next Phase of Drilling in Pre-Development Program at …” published on May 25, 2016 as well as Marketwatch.com‘s news article titled: “Golden Arrow Announces C$2 Million Program at Antofalla & Provides Corporate …” with publication date: October 17, 2016.
Golden Arrow Resources Corporation is an exploration-stage company. The company has a market cap of $78.10 million. The Firm is a junior mineral exploration firm engaged in the business of acquiring, exploring and evaluating natural resource properties. It currently has negative earnings. The Company’s properties are located in Argentina and include approximately 214,000 hectares in over four provinces.
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