The stock of Strategic Metals Ltd (CVE:SMD) gapped up by $0.01 today and has $1.05 target or 75.00% above today’s $0.60 share price. The 8 months technical chart setup indicates low risk for the $54.05 million company. The gap was reported on Nov, 9 by Barchart.com. If the $1.05 price target is reached, the company will be worth $40.54M 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 39,189 shares traded hands. Strategic Metals Ltd (CVE:SMD) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More important recent Strategic Metals Ltd (CVE:SMD) news were published by: Marketwatch.com which released: “Precipitate Receives $1200000 Through Warrant Exercise by Strategic Metals Ltd.” on November 08, 2016, also Reuters.com published article titled: “BRIEF-Strategic Metals Ltd announces acquisition of additional securities …”, Marketwired.com published: “Strategic Metals Ltd. Cuts 30.23 m Grading 128.46 g/t Silver and 0.40% Copper …” on October 12, 2016. More interesting news about Strategic Metals Ltd (CVE:SMD) was released by: Streetinsider.com and their article: “Clean Diesel Tech (CDTI),Sino-Precious Metals Enter Strategic Alliance For …” with publication date: October 17, 2016.
Strategic Metals Ltd. is an exploration-stage company. The company has a market cap of $54.05 million. The Firm is engaged in the acquisition, exploration and evaluation of mineral properties located in Canada. It currently has negative earnings. It holds investments in other resource companies, including Rockhaven and Silver Range Resources.
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