The stock of Parlane Resource Corp (CVE:PPP) gapped up by $0.005 today and has $0.48 target or 56.00% above today’s $0.31 share price. The 9 months technical chart setup indicates low risk for the $3.20 million company. The gap was reported on Nov, 15 by Barchart.com. If the $0.48 price target is reached, the company will be worth $1.79M more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 505,950 shares traded hands or 663.19% up from the average. Parlane Resource Corp (CVE:PPP) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.
More notable recent Parlane Resource Corp (CVE:PPP) news were published by: Marketwired.com which released: “Copper in its pure form discovered on Parlane’s Big Bear property, Nechako …” on November 15, 2016, also Marketwired.com with their article: “Parlane Closes Tranche 1 of Private Placement” published on August 02, 2016, Marketwired.com published: “Parlane confirms the potential for gold at the Old Crow occurrence, Big Bear …” on November 10, 2016. More interesting news about Parlane Resource Corp (CVE:PPP) were released by: Stockhouse.com and their article: “Lassonde says gold find could be among richest in BC” published on February 02, 2013 as well as Juniorminingnetwork.com‘s news article titled: “Revolver Resources to Change Name to GGX Gold Corp.” with publication date: October 07, 2016.
Parlane Resource Corp. is a junior exploration company. The company has a market cap of $3.20 million. The Firm is focused on identifying and developing early-stage gold properties. It currently has negative earnings. It is engaged in exploration in British Columbia on the Big Bear Project .
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