The stock of Azarga Metals Corp (CVE:AZR) gapped down by $0.005 today and has $0.31 target or 13.00% below today’s $0.36 share price. The 7 months technical chart setup indicates high risk for the $16.09M company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.31 price target is reached, the company will be worth $2.09 million 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 28,000 shares traded hands or 21.41% up from the average. Azarga Metals Corp (CVE:AZR) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
Another recent and important Azarga Metals Corp (CVE:AZR) news was published by Juniorminingnetwork.com which published an article titled: “Azarga Metals Drilling Confirms Sub-Surface Mineralization At Unkur Copper …” on August 22, 2016.
Azarga Metals Corp., formerly European Uranium Resources Ltd., is a Canada exploration-stage company. The company has a market cap of $16.09 million. The Firm is engaged in the acquisition and exploration of mineral properties. It currently has negative earnings. The Firm operates through acquisition and exploration of mineral properties segment.
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