The stock of Highland Gold Mining Ltd (LON:HGM) gapped up by GBX 0.25 today and has GBX 359.95 target or 135.00% above today’s GBX 153.17 share price. The 5 months technical chart setup indicates low risk for the GBX 498.92M company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 359.95 price target is reached, the company will be worth GBX 673.54M 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%. The stock decreased 3.36% or GBX 5.33 on November 10, hitting GBX 153.17. About 1.44 million shares traded hands. Highland Gold Mining Ltd (LON:HGM) has risen 85.23% since April 14, 2016 and is uptrending. It has outperformed by 79.58% the S&P500.
More news for Highland Gold Mining Ltd (LON:HGM) were recently published by: Fool.Co.Uk, which released: “Are 88 Energy Ltd, Highland Gold Mining Ltd and Plexus Holdings plc too risky …” on May 12, 2016. Fool.Co.Uk‘s article titled: “Would Glencore plc, Fresnillo plc and Highland Gold Mining Ltd survive a …” and published on June 15, 2016 is yet another important article.
Highland Gold Mining Limited is engaged in establishing a portfolio of gold mining activities within the Russian Federation. The company has a market cap of 498.92 million GBP. The Firm operates in four divisions: gold production, polymetallic concentrate production, development and exploration, and other. It has a 49.97 P/E ratio. The gold production segment comprises two divisions, namely Mnogovershinnoye and Belaya Gora (BG).
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