The stock of VE GOLD CDI 1:1 (ASX:GDX) gapped down by $0.99 today and has $24.39 target or 11.00% below today’s $27.40 share price. The 7 months technical chart setup indicates high risk for the $ company. The gap down was reported on Nov, 14 by Barchart.com. If the $24.39 price target is reached, the company will be worth $ 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%. The stock decreased 9.57% or $2.9 on November 14, hitting $27.4. VE GOLD CDI 1:1 (ASX:GDX) has risen 15.03% since April 5, 2016 and is uptrending. It has outperformed by 10.05% the S&P500.
More recent VE GOLD CDI 1:1 (ASX:GDX) news were published by: Fool.com.Au which released: “ASX 200 shoots higher: 17 shares you should have been watching” on November 11, 2016. Also Fool.com.Au published the news titled: “Why these 4 ASX shares got crushed today” on September 14, 2016. Fool.com.Au‘s news article titled: “3 stocks at 52-week lows â€“ can they turn it around?” with publication date: July 24, 2015 was also an interesting one.
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