The stock of Parlane Resource Corp (CVE:PPP) gapped up by $0.01 today and has $0.38 target or 41.00% above today’s $0.27 share price. The 6 months technical chart setup indicates low risk for the $2.84M company. The gap was reported on Nov, 10 by Barchart.com. If the $0.38 price target is reached, the company will be worth $1.16M 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 854,200 shares traded hands or 3779.91% up from the average. Parlane Resource Corp (CVE:PPP) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More notable recent Parlane Resource Corp (CVE:PPP) news were published by: Marketwired.com which released: “Parlane Closes Tranche 1 of Private Placement” on August 02, 2016, also Stockhouse.com with their article: “Lassonde says gold find could be among richest in BC” published on February 02, 2013, Marketwatch.com published: “News Viewer” on July 03, 2014. More interesting news about Parlane Resource Corp (CVE:PPP) were released by: Nasdaq.com and their article: “Donald Trump’s Blunt Defense of Business Record Poses Political Risks” published on September 27, 2016 as well as Streetinsider.com‘s news article titled: “Vernon Hills, IL (PRWEB) November 10, 2016” with publication date: August 02, 2006.
Parlane Resource Corp. is a junior exploration company. The company has a market cap of $2.84 million. The Firm is focused on identifying and developing early-stage gold properties. It currently has negative earnings. It is engaged in exploration in British Columbia on the Big Bear Project .
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