The stock of Kincora Copper Ltd (CVE:KCC) gapped down by $0.035 today and has $0.29 target or 13.00% below today’s $0.33 share price. The 7 months technical chart setup indicates high risk for the $14.29M company. The gap down was reported on Nov, 15 by Barchart.com. If the $0.29 price target is reached, the company will be worth $1.86M 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 31,868 shares traded hands or 99.29% up from the average. Kincora Copper Ltd (CVE:KCC) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.
More important recent Kincora Copper Ltd (CVE:KCC) news were published by: Juniorminingnetwork.com which released: “Kincora Copper Appoints Peter Leaman as Senior Vice-President of Exploration …” on November 14, 2016, also Marketwired.com published article titled: “Kincora Copper: Final Resolution of Two Year and C$7 Million Dispute”, Juniorminingnetwork.com published: “Kincora Copper Consolidates Landholding in Southern Gobi Copper-Gold Belt” on November 08, 2016. More interesting news about Kincora Copper Ltd (CVE:KCC) was released by: Marketwired.com and their article: “Ivanhoe Industries, LLC : Acquisition of Common Shares and Warrants of Kincora …” with publication date: May 27, 2016.
Kincora Copper Limited is an exploration-stage company. The company has a market cap of $14.29 million. The Firm operates as a junior resource company, which is engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia, and is assessing other options in and outside of Mongolia, both with near construction and production assets. It currently has negative earnings. The Company’s asset is the Bronze Fox copper-gold project.
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