The stock of Arizona Mining Inc (TSE:AZ) gapped down by $0.03 today and has $2.90 target or 6.00% below today’s $3.09 share price. The 7 months technical chart setup indicates high risk for the $718.17M company. The gap down was reported on Nov, 11 by Barchart.com. If the $2.90 price target is reached, the company will be worth $43.09M 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 614,647 shares traded hands. Arizona Mining Inc (TSE:AZ) has risen 224.74% since April 7, 2016 and is uptrending. It has outperformed by 218.60% the S&P500.
Arizona Mining Inc (TSE:AZ) Ratings Coverage
Out of 2 analysts covering Arizona Mining Inc (TSE:AZ), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Arizona Mining Inc has been the topic of 5 analyst reports since May 16, 2016 according to StockzIntelligence Inc. Scotia Capital maintained the shares of AZ in a report on Friday, July 8 with “Outperform” rating. Scotia Capital maintained the shares of AZ in a report on Friday, August 19 with “Outperform” rating. As per Tuesday, October 25, the company rating was maintained by Scotia Capital.
Another recent and important Arizona Mining Inc (TSE:AZ) news was published by Benzinga.com which published an article titled: “Arizona Mining Announces Increase to Bought Deal Offering of Common Shares” on November 11, 2016.
Arizona Mining Inc., formerly AZ Mining Inc., is a Canada junior resource company. The company has a market cap of $718.17 million. The Firm is engaged in the acquisition, exploration and if warranted, development of natural mineral resource properties. It currently has negative earnings. It operates through mineral exploration and development segment.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.