The stock of American Manganese Inc. (CVE:AMY) gapped up by $0.03 today and has $0.36 target or 43.00% above today’s $0.25 share price. The 5 months technical chart setup indicates low risk for the $33.01M company. The gap was reported on Nov, 10 by Barchart.com. If the $0.36 price target is reached, the company will be worth $14.19M 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 8.30M shares traded hands or 721.78% up from the average. American Manganese Inc. (CVE:AMY) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More notable recent American Manganese Inc. (CVE:AMY) news were published by: Finance.Yahoo.com which released: “American Manganese Inc. Announces X-Ray Diffraction Results from Higher Purity …” on October 14, 2016, also Investingnews.com with their article: “American Manganese Inc. Appoints Advisory Board and Sets Options” published on October 26, 2016, Stockhouse.com published: “American Manganese Inc. to Present at NAATBatt International Workshop on …” on October 27, 2016. More interesting news about American Manganese Inc. (CVE:AMY) were released by: Stockhouse.com and their article: “American Manganese Inc. Approves Second Lithium-Cobalt Recycling Research …” published on October 04, 2016 as well as Investingnews.com‘s news article titled: “American Manganese” with publication date: May 04, 2016.
American Manganese Inc., formerly Rocher Deboule Minerals Corporation, is a Canada exploration-stage company. The company has a market cap of $33.01 million. The Firm is engaged in the acquisition, exploration and development of interests in mineral resource projects in British Columbia, Canada and Arizona, the United States. It currently has negative earnings. The Company’s segment is the exploration for and development of mineral property interests.
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