What’s Next for Canada Carbon Inc After Today’s Gap Down?

 What's Next for Canada Carbon Inc After Today's Gap Down?

The stock of Canada Carbon Inc (CVE:CCB) gapped down by $0.005 today and has $0.23 target or 10.00% below today’s $0.26 share price. The 9 months technical chart setup indicates high risk for the $24.86 million company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.23 price target is reached, the company will be worth $2.49 million 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 147,500 shares traded hands or 86.84% up from the average. Canada Carbon Inc (CVE:CCB) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.

More notable recent Canada Carbon Inc (CVE:CCB) news were published by: Seekingalpha.com which released: “Canada Carbon Should Become Canada Marble” on May 16, 2016, also Marketwired.com with their article: “Canada Carbon Appoints Former President of Industrial Materials at GrafTech …” published on October 30, 2015, Investingnews.com published: “Canada Carbon Summarizes PEA Work for Miller Graphite Project” on October 29, 2015. More interesting news about Canada Carbon Inc (CVE:CCB) were released by: Seekingalpha.com and their article: “A Visit To The Canada Carbon Miller Project: An Unusual And Possibly Unique …” published on January 11, 2015 as well as Investingnews.com‘s news article titled: “Dr. Pieter J. Barnard on Canada Carbon’s Miller Graphite” with publication date: December 15, 2015.

Canada Carbon Inc. is a Canada-based mining company. The company has a market cap of $24.86 million. The Company’s principal business is the acquisition, exploration and evaluation of mineral properties. It currently has negative earnings. The Firm operates in the acquisition and exploration of mineral properties in Canada segment.

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