The stock of Falco Resources Ltd (CVE:FPC) gapped down by $0.01 today and has $0.87 target or 10.00% below today’s $0.97 share price. The 8 months technical chart setup indicates high risk for the $106.55 million company. The gap down was reported on Nov, 11 by Barchart.com. If the $0.87 price target is reached, the company will be worth $10.66 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 134,775 shares traded hands. Falco Resources Ltd (CVE:FPC) has risen 6.00% since October 12, 2016 and is uptrending. It has underperformed by 0.15% the S&P500.
More notable recent Falco Resources Ltd (CVE:FPC) news were published by: Mining.com which released: “Osisko increases ownership of Falco Resources” on December 31, 2015, also Seekingalpha.com with their article: “Falco Resources: 4.5 Million Ounces In Quebec” published on October 02, 2016, Investingnews.com published: “Falco Resources” on July 25, 2016. More interesting news about Falco Resources Ltd (CVE:FPC) were released by: Marketwired.com and their article: “Falco Resources Corporate Update” published on February 17, 2015 as well as Marketwired.com‘s news article titled: “Osisko Gold Royalties Announces Acquisition of Common Shares of Falco Resources” with publication date: August 29, 2014.
Falco Resources Ltd, formerly Falco Pacific Resource Group Inc, is a Canada exploration-stage company. The company has a market cap of $106.55 million. The Firm is engaged in the business of acquiring and exploring mineral properties in Canada. It currently has negative earnings. The Firm focuses on the exploration and evaluation of its mineral properties in the Rouyn-Noranda district in the Province of Quebec.
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