Faircourt Gold Income Corp. Could Burn Your Portfolio. Has Another Gap Down

 Faircourt Gold Income Corp. Could Burn Your Portfolio. Has Another Gap Down

The stock of Faircourt Gold Income Corp. (TSE:FGX) gapped down by $0.01 today and has $3.02 target or 14.00% below today’s $3.51 share price. The 6 months technical chart setup indicates high risk for the $19.10 million company. The gap down was reported on Nov, 14 by Barchart.com. If the $3.02 price target is reached, the company will be worth $2.67M 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 15,151 shares traded hands or 91.28% up from the average. Faircourt Gold Income Corp. (TSE:FGX) has risen 8.38% since April 8, 2016 and is uptrending. It has outperformed by 3.40% the S&P500.

More recent Faircourt Gold Income Corp. (TSE:FGX) news were published by: Theglobeandmail.com which released: “Gold: Safe haven or just another volatile commodity?” on February 23, 2016. Also Theglobeandmail.com published the news titled: “Eye on Shorts: What bearish investors are betting against” on February 04, 2015. Seekingalpha.com‘s news article titled: “Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks – Which Is The Best …” with publication date: November 06, 2012 was also an interesting one.

Faircourt Gold Income Corp. is a closed-end fund. The company has a market cap of $19.10 million. The Firm provides investors with exposure to the global companies primarily involved in gold exploration, mining or production, while also providing a tax efficient yield in the form of monthly distributions. It currently has negative earnings. The Company’s investment objectives are to provide Shareholders with monthly distributions, initially targeted to yield approximately 5% per annum based on the issue price of $10.00 per Class A Share, and the opportunity for capital appreciation.

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