The stock of Aurania Resources Ltd (CVE:ARU) gapped up by $0.03 today and has $1.53 target or 109.00% above today’s $0.73 share price. The 9 months technical chart setup indicates low risk for the $15.93 million company. The gap was reported on Nov, 9 by Barchart.com. If the $1.53 price target is reached, the company will be worth $17.36 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 18,700 shares traded hands or 289.99% up from the average. Aurania Resources Ltd (CVE:ARU) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More news for Aurania Resources Ltd (CVE:ARU) were recently published by: Investingnews.com, which released: “Wallbridge Mining Building Value From Discovery to Production” on January 06, 2016. Reuters.com‘s article titled: “Aurania Resources Ltd Begins Trading On TSX Venture Exchange” and published on April 18, 2013 is yet another important article.
Aurania Resources Ltd. is a Canada-based junior exploration mining firm engaged in the identification, evaluation, acquisition and exploration of mineral property interests with a focus on precious metals. The company has a market cap of $15.93 million. The Firm operates in the segment of mineral exploration in Switzerland. It currently has negative earnings. The Firm is focused on identifying and evaluating potential exploration projects, and expanding the asset base and advancing exploration on the Company’s Swiss mineral property interests.
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