Can Kennady Diamonds Inc’s Tomorrow be Different? The Stock Just Gapped Down

 Can Kennady Diamonds Inc's Tomorrow be Different? The Stock Just Gapped Down

The stock of Kennady Diamonds Inc (CVE:KDI) gapped down by $0.2 today and has $3.12 target or 11.00% below today’s $3.50 share price. The 6 months technical chart setup indicates high risk for the $167.37 million company. The gap down was reported on Nov, 15 by If the $3.12 price target is reached, the company will be worth $18.41 million 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 542,825 shares traded hands or 1815.67% up from the average. Kennady Diamonds Inc (CVE:KDI) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.

More notable recent Kennady Diamonds Inc (CVE:KDI) news were published by: which released: “Kennady Diamonds Receives Kelvin Diamond Valuation Results” on November 15, 2016, also with their article: “Kennady Diamonds: Advancing Kennady North To Production (KDIAF)” published on December 13, 2014, published: “Kennady Diamonds Sample Results Lift Investor Confidence (KDIAF)” on December 27, 2014. More interesting news about Kennady Diamonds Inc (CVE:KDI) were released by: and their article: “Kennady Diamonds Share Price Creeps Higher” published on October 23, 2014 as well as‘s news article titled: “Kennady Diamonds Provides Update on North Summer Drilling Program” with publication date: August 11, 2016.

Kennady Diamonds Inc. is a Canada diamond exploration company. The company has a market cap of $167.37 million. The Firm is a resource company, which is involved in the exploration, discovery, evaluation and development of diamond properties in Canada’s Northwest Territories. It currently has negative earnings. Kennady Diamonds holds interest in over 20 federal leases and approximately 60 claims in the Kennady North diamond project.

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