Marlin Gold Mining Ltd Gaps Down Today, Is Now One of The Worst Performers

 Marlin Gold Mining Ltd Gaps Down Today, Is Now One of The Worst Performers

The stock of Marlin Gold Mining Ltd (CVE:MLN) gapped down by $0.01 today and has $0.45 target or 11.00% below today’s $0.51 share price. The 8 months technical chart setup indicates high risk for the $80.59M company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.45 price target is reached, the company will be worth $8.86M 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 99,852 shares traded hands or 367.06% up from the average. Marlin Gold Mining Ltd (CVE:MLN) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.

More notable recent Marlin Gold Mining Ltd (CVE:MLN) news were published by: Marketwired.com which released: “Wexford Updates Disclosure of Ownership of Marlin Gold Mining Ltd.” on May 17, 2016, also Marketwired.com with their article: “Marlin Gold Mining Ltd. Announces Intention to Commence a Normal Course Issuer Bid” published on February 23, 2016, Marketwired.com published: “Marlin Gold Mining Ltd. Completes Sale of Non-Core El Compas Gold-Silver …” on October 30, 2015. More interesting news about Marlin Gold Mining Ltd (CVE:MLN) were released by: Marketwired.com and their article: “Marlin Gold Mining Ltd. Closes Streaming Transaction to Launch Sailfish …” published on July 10, 2014 as well as Seekingalpha.com‘s news article titled: “Marlin Gold: Gone Fishing For Gold Streams” with publication date: March 04, 2014.

Marlin Gold Mining Ltd. is engaged in the exploration for, development of and production of gold in Mexico, silver in Arizona and acquiring royalty streaming agreements. The company has a market cap of $80.59 million. The Firm operates through the production of gold and exploration of resources segment. It currently has negative earnings. The Company’s principal product is gold dore with the refined gold bullion sold in the London spot market by the subsidiary in Barbados.

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