Bullish Gap Up for Dynacor Gold Mines Inc. After Better Fundamentals

 Bullish Gap Up for Dynacor Gold Mines Inc. After Better Fundamentals

The stock of Dynacor Gold Mines Inc. (TSE:DNG) gapped up by $0.01 today and has $4.41 target or 73.00% above today’s $2.55 share price. The 7 months technical chart setup indicates low risk for the $95.68M company. The gap was reported on Nov, 9 by Barchart.com. If the $4.41 price target is reached, the company will be worth $69.85M 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 33,560 shares traded hands. Dynacor Gold Mines Inc. (TSE:DNG) has risen 15.81% since April 5, 2016 and is uptrending. It has outperformed by 11.03% the S&P500.

More important recent Dynacor Gold Mines Inc. (TSE:DNG) news were published by: Seekingalpha.com which released: “Dynacor Gold: Undervalued, Profitable And Multiple Catalysts Ahead” on August 14, 2014, also Seekingalpha.com published article titled: “Dynacor Gold: Huge Upside Following Completion Of Chala Plant”, Seekingalpha.com published: “Dynacor Gold: A Solid Quarter, But Further Upside Ahead” on August 15, 2016. More interesting news about Dynacor Gold Mines Inc. (TSE:DNG) was released by: Marketwatch.com and their article: “Dynacor Pours First Gold at Veta Dorada Plant in Chala” with publication date: October 14, 2016.

Dynacor Gold Mines Inc. is a Canada ore processing and exploration company. The company has a market cap of $95.68 million. The Company’s activities consist of the production of gold and silver from the processing of purchased ore and the exploration of its mining properties located in Peru. It has a 25.72 P/E ratio. The Company’s segment is the sector of exploration, evaluation and processing of mineral resources.

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