The stock of Unigold Inc. (CVE:UGD) gapped up by $0.02 today and has $0.48 target or 45.00% above today’s $0.33 share price. The 8 months technical chart setup indicates low risk for the $14.81M company. The gap was reported on Nov, 9 by Barchart.com. If the $0.48 price target is reached, the company will be worth $6.66 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 81,500 shares traded hands. Unigold Inc. (CVE:UGD) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More important recent Unigold Inc. (CVE:UGD) news were published by: Marketwired.com which released: “Evanachan Limited Discloses Holdings in Unigold Inc.” on May 25, 2016, also Marketwired.com published article titled: “Unigold Extends Massive Sulphide Mineralization Intersecting 21.2 Metres …”, Investorideas.com published: “#Mining News: Red Cloud Klondike Strike 4th Annual Fall Mining Showcase” on October 04, 2016. More interesting news about Unigold Inc. (CVE:UGD) was released by: Nasdaq.com and their article: “Caribbean Island Gold: Scott Jobin-Bevans” with publication date: May 02, 2012.
Unigold Inc. is a Canada-based junior natural resource firm focused on exploring and developing its land position in the Dominican Republic, within the Cretaceous age, Tireo Formation. The company has a market cap of $14.81 million. The Tireo Formation is a gold and base metal district, and is approximately 75-kilometer wide series of volcanic and sedimentary rocks trending northwesterly across the island of Hispaniola The Firm owns 100% of the exploration rights for gold, silver, copper, zinc and all associated minerals on the Neita Property in the north western Dominican Republic, as well as an option for the commercial mining of the mineral deposits. It currently has negative earnings. The Firm operates through its Canadian subsidiary, Unigold Resources Inc., and approximately 97% owned subsidiary, Unigold Dominicana, S.R.L.
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