The stock of Skyharbour Resources Ltd (CVE:SYH) gapped down by $0.01 today and has $0.23 target or 12.00% below today’s $0.27 share price. The 6 months technical chart setup indicates high risk for the $11.47 million company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.23 price target is reached, the company will be worth $1.38M 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 50,000 shares traded hands or 9.41% up from the average. Skyharbour Resources Ltd (CVE:SYH) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More notable recent Skyharbour Resources Ltd (CVE:SYH) news were published by: Stockhouse.com which released: “IIROC Trade Halt – Skyharbour Resources Ltd.” on January 13, 2016, also Forbes.com with their article: “Young Guns: Regardless Of Early-Age Success, Skyharbour CEO Jordan Trimble …” published on April 08, 2014, Stockhouse.com published: “TomaGold Acquires Skyharbour Resources’ Baird Property Interest in the Red …” on September 29, 2016. More interesting news about Skyharbour Resources Ltd (CVE:SYH) were released by: Juniorminingnetwork.com and their article: “TomaGold Closes its acquisitions of Claims From Torino Power Solutions and the …” published on October 26, 2016 as well as Nasdaq.com‘s news article titled: “Skyharbour Files NI 43-101 Technical Report on Moore Lake Property, Saskatchewan” with publication date: October 07, 2016.
Skyharbour Resources Ltd. is an exploration-stage company. The company has a market cap of $11.47 million. The Company’s principal business activity is the acquisition and exploration of mineral property interests in Saskatchewan, Canada. It currently has negative earnings. The Company’s activities also include the process of exploring its mineral properties, reviewing and acquiring mineral properties and conducting exploration programs.