What’s Propelling Prosper Gold Corp to Decline So Much? The Stock Gaps Down Today

 What's Propelling Prosper Gold Corp to Decline So Much? The Stock Gaps Down Today

The stock of Prosper Gold Corp (CVE:PGX) gapped down by $0.005 today and has $0.22 target or 12.00% below today’s $0.26 share price. The 5 months technical chart setup indicates high risk for the $11.26 million company. The gap down was reported on Nov, 8 by Barchart.com. If the $0.22 price target is reached, the company will be worth $1.35 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 76,800 shares traded hands. Prosper Gold Corp (CVE:PGX) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.

More notable recent Prosper Gold Corp (CVE:PGX) news were published by: Marketwired.com which released: “Prosper Gold Corp. Completes $1.67M Flow-Through Private Placement – Second …” on November 01, 2016, also Marketwired.com with their article: “Prosper Gold Corp. Acquires High Grade Ashley Gold Mine – Cadillac Larder Lake …” published on February 29, 2016, Marketwired.com published: “Prosper Gold Corp. Increases Non-Brokered Private Placement” on June 27, 2016. More interesting news about Prosper Gold Corp (CVE:PGX) were released by: Marketwired.com and their article: “Prosper Gold Corp. Commences Initial 7500m Drill Program at the Ashley Gold …” published on September 06, 2016 as well as Marketwired.com‘s news article titled: “Prosper Gold Corp. Acquires Galahad Leases and Increases Ontario Land Position …” with publication date: April 21, 2016.

Prosper Gold Corp. is a Canada-based exploration and development company, which is engaged in acquiring and advancing promising mineral prospects in British Columbia . The company has a market cap of $11.26 million. The Firm focuses on its Star Porphyry Copper Gold Project, an alkalic porphyry copper-gold prospect in northwest BC, located approximately 110 kilometers west-southwest of Dease Lake, BC and over 50 kilometers northwest of Telegraph Creek. It currently has negative earnings. The Company’s Star Porphyry Copper Gold Project includes projects, such as Imperial Metals’ Red Chris deposit, where mill commissioning for production has started; NovaGold/Teck Resources’ Galore Creek deposit, which is in pre-feasibility, and Copper Fox/Teck Resources’ Shaft Creek deposit, which has reserves of approximately 941 million tons grading approximately 0.3% copper, over 0.2 gigatons gold, approximately 0.02% molybdenum and over 1.8 gigatons silver.

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