Sentry Select Primary Metals Corp. Draws Bullish Attention After Its Gap Up Today

 Sentry Select Primary Metals Corp. Draws Bullish Attention After Its Gap Up Today

The stock of Sentry Select Primary Metals Corp. (TSE:PME) gapped up by $0.03 today and has $5.51 target or 53.00% above today’s $3.60 share price. The 7 months technical chart setup indicates low risk for the $56.32 million company. The gap was reported on Nov, 9 by Barchart.com. If the $5.51 price target is reached, the company will be worth $29.85 million 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 32,940 shares traded hands or 42.99% up from the average. Sentry Select Primary Metals Corp. (TSE:PME) has risen 20.28% since April 5, 2016 and is uptrending. It has outperformed by 15.50% the S&P500.

Sentry Select Primary Metals Corp. provides investors with an opportunity to invest in an actively managed portfolio consisting primarily of securities of issuers that are engaged in the production and/or exploration of metals and minerals, with a focus on gold issuers. The company has a market cap of $56.32 million. The Fund’s investment objective is to provide the holders of Class A Shares of the Fund with long-term capital appreciation. It has a 2.62 P/E ratio. The Fund invests in sectors, including gold and silver, cash and cash equivalents, and precious metals and minerals.

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