The stock of Broadway Gold Mining Ltd (CVE:BRD) gapped down by $0.03 today and has $0.27 target or 10.00% below today’s $0.30 share price. The 8 months technical chart setup indicates high risk for the $7.84 million company. The gap down was reported on Nov, 15 by Barchart.com. If the $0.27 price target is reached, the company will be worth $784,000 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 50,000 shares traded hands or 142.80% up from the average. Broadway Gold Mining Ltd (CVE:BRD) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.
More important recent Broadway Gold Mining Ltd (CVE:BRD) news were published by: Investingnews.com which released: “Carolina Capital Changes Name to Broadway Gold Mining” on October 17, 2016, also Marketwired.com published article titled: “Duane Parnham Appointed to Broadway Gold Board and Named Chairman”, Stockhouse.com published: “IIROC Trade Resumption – Broadway Gold Mining Ltd.” on October 17, 2016. More interesting news about Broadway Gold Mining Ltd (CVE:BRD) was released by: Marketwired.com and their article: “Broadway Gold Mining Engages Primoris Group for Media and Investor Relations …” with publication date: October 18, 2016.
Broadway Gold Mining Ltd, formerly Carolina Capital Corp, is a Canada company, which owns an interest in the Madison Gold and Copper Mine . The company has a market cap of $7.84 million. The Madison Mine is subject to underlying royalties, located in the Silver Star Mining District of southeastern Montana. It currently has negative earnings. The Madison Mine is located approximately 40 kilometers southeast of Butte, Montana, the location of the Butte copper mine.
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