IMPACT Silver Corp Has Another Very Weak Trading Session Recording a Gap Down

 IMPACT Silver Corp Has Another Very Weak Trading Session Recording a Gap Down

The stock of IMPACT Silver Corp (CVE:IPT) gapped down by $0.01 today and has $0.59 target or 13.00% below today’s $0.68 share price. The 7 months technical chart setup indicates high risk for the $55.12 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.59 price target is reached, the company will be worth $7.17M 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 548,277 shares traded hands or 254.45% up from the average. IMPACT Silver Corp (CVE:IPT) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

More recent IMPACT Silver Corp (CVE:IPT) news were published by: Seekingalpha.com which released: “This Silver Stock Will Impact Your Portfolio Greatly” on April 11, 2016. Also Marketwatch.com published the news titled: “IMPACT Silver Announces Second Quarter 2016 Financial and Production Results” on August 23, 2016. Marketwired.com‘s news article titled: “IMPACT Silver Announces Fourth Quarter and Year Ended December 31, 2015 …” with publication date: March 15, 2016 was also an interesting one.

Impact Silver Corp is a Canada-based silver producer. The company has a market cap of $55.12 million. The Company, through its subsidiaries, is engaged in silver mining and related activities, including exploration, development and mineral processing in Mexico. It currently has negative earnings. The Company’s divisions include Mexico, including the Company’s mining activities and exploration properties; Canada, including head office and group services, and Caribbean, including exploration properties held in the Dominican Republic.

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