After Today’s Gap Down, Is Faircourt Gold Income Corp.’s Near-Term Analysis Negative?

 After Today's Gap Down, Is Faircourt Gold Income Corp.'s Near Term Analysis Negative?

The stock of Faircourt Gold Income Corp. (TSE:FGX) gapped down by $0.12 today and has $3.18 target or 13.00% below today’s $3.66 share price. The 9 months technical chart setup indicates high risk for the $20.58M company. The gap down was reported on Nov, 11 by Barchart.com. If the $3.18 price target is reached, the company will be worth $2.68M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 11,200 shares traded hands or 48.78% up from the average. Faircourt Gold Income Corp. (TSE:FGX) has risen 16.42% since April 7, 2016 and is uptrending. It has outperformed by 10.27% the S&P500.

More recent Faircourt Gold Income Corp. (TSE:FGX) news were published by: Theglobeandmail.com which released: “Gold: Safe haven or just another volatile commodity?” on February 23, 2016. Also Theglobeandmail.com published the news titled: “Eye on Shorts: What bearish investors are betting against” on February 04, 2015. Seekingalpha.com‘s news article titled: “Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks – Which Is The Best …” with publication date: November 06, 2012 was also an interesting one.

Faircourt Gold Income Corp. is a closed-end fund. The company has a market cap of $20.58 million. The Firm provides investors with exposure to the global companies primarily involved in gold exploration, mining or production, while also providing a tax efficient yield in the form of monthly distributions. It currently has negative earnings. The Company’s investment objectives are to provide Shareholders with monthly distributions, initially targeted to yield approximately 5% per annum based on the issue price of $10.00 per Class A Share, and the opportunity for capital appreciation.

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