The stock of Trans-Siberian Gold plc (LON:TSG) gapped up by GBX 1.01 today and has GBX 123.30 target or 174.00% above today’s GBX 45.00 share price. The 6 months technical chart setup indicates low risk for the GBX 49.06 million company. The gap was reported on Nov, 10 by Barchart.com. If the GBX 123.30 price target is reached, the company will be worth GBX 85.36 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%. The stock decreased 3.23% or GBX 1.5 on November 10, hitting GBX 45. About 10,184 shares traded hands. Trans-Siberian Gold plc (LON:TSG) has risen 12.05% since April 12, 2016 and is uptrending. It has outperformed by 6.40% the S&P500.
More recent Trans-Siberian Gold plc (LON:TSG) news were published by: Fool.Co.Uk which released: “Could Internetq Plc (+182%), Trans-Siberian Gold plc (+133%) And Tribal Group …” on March 30, 2016. Also Uk.Finance.Yahoo.com published the news titled: “Trans-Siberian Gold plc (TSG.L)” on April 01, 2014. Fool.Co.Uk‘s news article titled: “Can Pantheon Resources plc (+680%), Trans-Siberian Gold plc (+245%) and …” with publication date: June 08, 2016 was also an interesting one.
Trans-Siberian Gold plc is a United Kingdom resource firm engaged in acquiring and developing a portfolio of gold mining assets in Russia. The company has a market cap of 49.06 million GBP. The Company’s subsidiary, ZAO Trevozhnoye Zarevo , holds approximately 20 square kilometers of mining license in the southern part of the Kamchatka peninsula, including the Asacha gold deposit, an epithermal gold/silver deposit located on a tertiary volcanic arc typical of ore systems found along the Pacific Rim. It has a 6.83 P/E ratio. The main ore zone at Asacha consists of approximately five steeply dipping veins with over two principal veins averaging over two meters in width.
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