Is Selling Stock Like Victoria Gold Corp After Such Gap Down a Winning Strategy?

 Is Selling Stock Like Victoria Gold Corp After Such Gap Down a Winning Strategy?

The stock of Victoria Gold Corp (CVE:VIT) gapped down by $0.02 today and has $0.46 target or 14.00% below today’s $0.53 share price. The 8 months technical chart setup indicates high risk for the $246.13 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.46 price target is reached, the company will be worth $34.46M 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 985,671 shares traded hands or 36.15% up from the average. Victoria Gold Corp (CVE:VIT) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

More important recent Victoria Gold Corp (CVE:VIT) news were published by: Seekingalpha.com which released: “Victoria Gold Corp: Yukon Fever Will Fade, As Will The Share Price” on July 15, 2016, also Seekingalpha.com published article titled: “Victoria Gold: The Probability Of A Takeover Grows”, Marketwired.com published: “Electrum Strategic Opportunities Fund L.P. Acquires Units of Victoria Gold Corp.” on May 10, 2016. More interesting news about Victoria Gold Corp (CVE:VIT) was released by: Marketwired.com and their article: “Victoria Gold Receives Final Major Permit for Eagle Gold Project, Yukon” with publication date: December 07, 2015.

Victoria Gold Corp. is an exploration and development-stage company. The company has a market cap of $246.13 million. The Firm is engaged in the acquisition, evaluation, exploration and development of mineral properties. It currently has negative earnings. The Company’s divisions include corporate, Canada and the United States.

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