The stock of Canadian Zeolite Corp (CVE:CNZ) gapped up by $0.01 today and has $2.04 target or 183.00% above today’s $0.72 share price. The 5 months technical chart setup indicates low risk for the $20.95M company. The gap was reported on Nov, 9 by Barchart.com. If the $2.04 price target is reached, the company will be worth $38.34M 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 488,154 shares traded hands or 204.98% up from the average. Canadian Zeolite Corp (CVE:CNZ) has risen 6.00% since October 10, 2016 and is uptrending. It has outperformed by 1.22% the S&P500.
More recent Canadian Zeolite Corp (CVE:CNZ) news were published by: Marketwatch.com which released: “Canadian Zeolite Corp.” on November 07, 2016. Also Stockhouse.com published the news titled: “Canadian Zeolite Becomes Exclusive Provider to Canada’s Leading Distributor of …” on October 31, 2016. Stockhouse.com‘s news article titled: “Canadian Zeolite Announces National Distribution Deal with Bella Turf for …” with publication date: October 25, 2016 was also an interesting one.
Canadian Zeolite Corp, formerly Canadian Mining Co Inc, is a Canada company, which is engaged in the evaluation, acquisition, exploration, development and operation of mineral properties in British Columbia and Arizona, the United States. The company has a market cap of $20.95 million. In British Columbia, the Company has interests in Bromley Creek zeolite project, which consists of a total of approximately one mineral lease and approximately six mineral claims. It currently has negative earnings. The Firm holds a contiguous claim, 305975, which is located in the Similkameen Mining District of British Columbia.
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