The stock of Regulus Resources Inc (CVE:REG) gapped up by $0.03 today and has $3.05 target or 103.00% above today’s $1.50 share price. The 5 months technical chart setup indicates low risk for the $87.84 million company. The gap was reported on Nov, 9 by Barchart.com. If the $3.05 price target is reached, the company will be worth $90.48M 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 35,015 shares traded hands. Regulus Resources Inc (CVE:REG) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More notable recent Regulus Resources Inc (CVE:REG) news were published by: Reuters.com which released: “BRIEF-Regulus Resources says to increase amount of offering from 8.4 mln u…” on July 06, 2016, also Marketwired.com with their article: “Regulus Resources Announces Agreements for Collaborative Exploration at …” published on May 18, 2016, Marketwired.com published: “Regulus Announces Cdn$10 Million Private Placement” on July 05, 2016. More interesting news about Regulus Resources Inc (CVE:REG) were released by: Marketwired.com and their article: “Regulus and Southern Legacy Announce Closing of Arrangement” published on October 01, 2014 as well as Marketwired.com‘s news article titled: “Regulus Announces Closing of Financing” with publication date: July 27, 2016.
Regulus Resources Inc. is a mineral exploration company. The company has a market cap of $87.84 million. The Company’s projects include Golden Brew, Rio Grande, El Camino, La Frontera, Aguas Calientes, Catua and Fireweed. It currently has negative earnings. It has around 50% interest in the Rio Grande copper gold porphyry project , held through its wholly-owned subsidiary Mineras Antares Argentina S.A.
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