The stock of Royal Canadian Mint (TSE:MNS) gapped down by $0.09 today and has $12.92 target or 10.00% below today’s $14.36 share price. The 6 months technical chart setup indicates high risk for the $68.05M company. The gap down was reported on Nov, 11 by Barchart.com. If the $12.92 price target is reached, the company will be worth $6.81M 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 17,670 shares traded hands or 490.97% up from the average. Royal Canadian Mint (TSE:MNS) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
More notable recent Royal Canadian Mint (TSE:MNS) news were published by: Cbc.ca which released: “Royal Canadian Mint unveils its 2017 Canada 150 circulation coin series” on November 02, 2016, also Washingtonpost.com with their article: “Royal Canadian Mint employee allegedly smuggled $140000 worth of gold in his butt” published on September 21, 2016, Cbc.ca published: “Royal Canadian Mint issues collector coin for royal visit” on September 27, 2016. More interesting news about Royal Canadian Mint (TSE:MNS) were released by: Wsj.com and their article: “MintChip Digital Currency Sold to NanoPay by Royal Canadian Mint” published on January 12, 2016 as well as Cbc.ca‘s news article titled: “MintChip launch Tuesday brings Canadian-made digital cash to consumers” with publication date: June 21, 2016.
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