The stock of Filo Mining Corp (CVE:FIL) gapped up by $0.04 today and has $3.02 target or 52.00% above today’s $1.99 share price. The 9 months technical chart setup indicates low risk for the $102.70 million company. The gap was reported on Nov, 10 by Barchart.com. If the $3.02 price target is reached, the company will be worth $53.40M 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 17,600 shares traded hands. Filo Mining Corp (CVE:FIL) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More notable recent Filo Mining Corp (CVE:FIL) news were published by: Marketwatch.com which released: “NGEX Resources Inc. and Filo Mining Corp. Announce Closing of Spin-Out of Filo …” on August 16, 2016, also Globenewswire.com with their article: “Nasdaq Stockholm Welcomes Filo Mining Corp. to First North” published on September 06, 2016, Marketwatch.com published: “NGEx Resources Inc. and Filo Mining Corp. Announce TSX Venture Exchange …” on August 26, 2016. More interesting news about Filo Mining Corp (CVE:FIL) were released by: Marketwatch.com and their article: “Filo Mining Corp.” published on September 01, 2016 as well as Marketwired.com‘s news article titled: “NGEx Resources Inc. and Filo Mining Corp. Announce Nasdaq First North Approval …” with publication date: September 01, 2016.
Filo Mining Corp is a Canada-based mineral exploration company. The company has a market cap of $102.70 million. The Firm has interest in the Filo del Sol Project located in South America. It currently has negative earnings. The Filo del Sol Project is located on the border of Argentina’s San Juan Province and Chile’s adjacent Region III.
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