Traders Are Bullish Roxgold Inc After Today’s Gap Up

 Traders Are Bullish Roxgold Inc After Today's Gap Up

The stock of Roxgold Inc (CVE:ROG) gapped up by $0.01 today and has $2.04 target or 44.00% above today’s $1.42 share price. The 7 months technical chart setup indicates low risk for the $510.77 million company. The gap was reported on Nov, 9 by Barchart.com. If the $2.04 price target is reached, the company will be worth $224.74M 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 152,790 shares traded hands. Roxgold Inc (CVE:ROG) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.

More notable recent Roxgold Inc (CVE:ROG) news were published by: Marketwatch.com which released: “Appian Acquires Units of Roxgold Inc.” on November 04, 2014, also Marketwired.com with their article: “Roxgold Inc. Announces Closing of C$23 Million Bought Deal” published on March 08, 2016, Marketwired.com published: “Appian Acquires Shares of Roxgold Inc.” on May 16, 2014. More interesting news about Roxgold Inc (CVE:ROG) were released by: Seekingalpha.com and their article: “Roxgold Giving Investors A Second Chance To Get In” published on May 26, 2016 as well as Mining.com‘s news article titled: “Rapid ramp-up at Roxgold’s Yaramoko” with publication date: September 13, 2016.

Roxgold Inc. is a Canada-based gold exploration and development company. The company has a market cap of $510.77 million. The Firm is engaged in the business of acquiring, exploring and evaluating mineral properties, and developing them through to construction or disposing them when the evaluation is completed. It currently has negative earnings. The Firm has a development project, the Yaramoko Gold Project, which is located in Burkina Faso, West Africa.

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