Could Timberline Resources Corporation Crash Even More? The Stock Just Had a Gap Down

 Could Timberline Resources Corporation Crash Even More? The Stock Just Had a Gap Down

The stock of Timberline Resources Corporation (CVE:TBR) gapped down by $0.01 today and has $0.50 target or 10.00% below today’s $0.56 share price. The 6 months technical chart setup indicates high risk for the $14.64M company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.50 price target is reached, the company will be worth $1.46 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 82,500 shares traded hands or 626.49% up from the average. Timberline Resources Corporation (CVE:TBR) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

More notable recent Timberline Resources Corporation (CVE:TBR) news were published by: Marketwatch.com which released: “Timberline Resources Announces Voluntary Delisting from NYSE MKT” on January 27, 2016, also Money.Cnn.com with their article: “Timberline Resources Receives Audit Opinion With Going Concern Paragraph” published on January 16, 2016, Businesswire.com published: “Wolfpack Gold Completes Sale of Wolfpack Gold (Nevada) to Timberline Resources …” on August 15, 2014. More interesting news about Timberline Resources Corporation (CVE:TBR) were released by: Marketwired.com and their article: “Timberline Resources Closes Final Tranche of Equity Financing” published on June 30, 2016 as well as Seekingalpha.com‘s news article titled: “Timberline CEO Patankar stepping down” with publication date: December 28, 2015.

Timberline Resources Corporation is an exploration-stage company. The company has a market cap of $14.64 million. The Firm is engaged in mineral exploration business. It currently has negative earnings. The Firm holds interests in mineral prospects for exploration in Nevada and Montana mainly for target commodities of gold and silver.

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