The stock of TerraX Minerals Inc. (CVE:TXR) gapped up by $0.01 today and has $1.94 target or 173.00% above today’s $0.71 share price. The 7 months technical chart setup indicates low risk for the $66.13M company. The gap was reported on Nov, 10 by Barchart.com. If the $1.94 price target is reached, the company will be worth $114.40 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 57,050 shares traded hands. TerraX Minerals Inc. (CVE:TXR) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More notable recent TerraX Minerals Inc. (CVE:TXR) news were published by: Juniorminingnetwork.com which released: “TerraX Minerals Drills 7.40 Metres @ 10.17 g/t Au Along Strike of Previous …” on November 10, 2016, also Juniorminingnetwork.com with their article: “TerraX Minerals Commences Drilling at Mispickel Target, Yellowknife City Gold …” published on July 28, 2016, Investorintel.com published: “TerraX Minerals â€“ Land of the Gold Giants” on February 23, 2016. More interesting news about TerraX Minerals Inc. (CVE:TXR) were released by: Juniorminingnetwork.com and their article: “TerraX Minerals Completes Summer Drill Program, Expands Management Team” published on October 19, 2016 as well as Business.Financialpost.com‘s news article titled: “OceanaGold Corp buys Romarco Minerals Inc for $856 million, gains low-cost …” with publication date: July 30, 2015.
TerraX Minerals Inc. is a Canada-based company, which is engaged in the exploration and development of mineral properties. The company has a market cap of $66.13 million. The Firm focuses on the Yellowknife City Gold Project , which consists of the Northbelt, Walsh Lake and Southbelt properties in the Northwest Territories, as well as additional claims and property. It currently has negative earnings. The Yellowknife City Gold project lies within the Yellowknife greenstone belt and covers over 15 kilometers of strike length on the northern extension of the shear system that hosts the Con (6.1 million ounces (Moz)) and Giant (8.1 Moz) gold mines.
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