The stock of Stratton Resources Inc (CVE:SI) gapped down by $0.03 today and has $0.53 target or 12.00% below today’s $0.60 share price. The 5 months technical chart setup indicates high risk for the $34.03M company. The gap down was reported on Nov, 9 by Barchart.com. If the $0.53 price target is reached, the company will be worth $4.08 million 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 35,608 shares traded hands or 50.70% up from the average. Stratton Resources Inc (CVE:SI) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More notable recent Stratton Resources Inc (CVE:SI) news were published by: Marketwired.com which released: “Stratton Resources Inc. To Raise up to $7000000 Through Non-Brokered Private …” on August 12, 2016, also Finance.Yahoo.com with their article: “Stratton Resources Acquires Rights to 119000 hectares in Newfoundland, Canada” published on November 03, 2016, Marketwired.com published: “Stratton Resources Closes $7 Million Private Placement” on August 30, 2016. More interesting news about Stratton Resources Inc (CVE:SI) were released by: Reuters.com and their article: “BRIEF-Stratton Resources acquires rights to 119000 hectares in Newfoundla…” published on November 03, 2016 as well as Investingnews.com‘s news article titled: “5 Top TSXV Stocks: Cartier Resources Rises 55 Percent” with publication date: May 16, 2016.
Stratton Resources Inc. , formerly Tribune Minerals Corp., is a Canada exploration-stage company. The company has a market cap of $34.03 million. The Firm operates through the segment being acquisition, exploration and development of mineral resource properties. It currently has negative earnings. The Firm develops mineral property interests in North America.
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