Traders Are Bullish Astorius Resources Ltd. After Today’s Gap Up

 Traders Are Bullish Astorius Resources Ltd. After Today's Gap Up

The stock of Astorius Resources Ltd. (CVE:ASQ) gapped up by $0.005 today and has $0.77 target or 158.00% above today’s $0.30 share price. The 8 months technical chart setup indicates low risk for the $7.52 million company. The gap was reported on Nov, 15 by Barchart.com. If the $0.77 price target is reached, the company will be worth $11.88 million 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 150,375 shares traded hands or 71.79% up from the average. Astorius Resources Ltd. (CVE:ASQ) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.

More notable recent Astorius Resources Ltd. (CVE:ASQ) news were published by: Juniorminingnetwork.com which released: “Astorius Resources Commences First Phase of Exploration on Condor Property” on November 02, 2016, also Juniorminingnetwork.com with their article: “Astorius Resources to Acquire Strategically-Located Condor Gold Project in …” published on October 25, 2016, Stockhouse.com published: “Astorius Announces the Appointment of Clinton Smyth P.Geo as Technical Advisor” on October 12, 2016. More interesting news about Astorius Resources Ltd. (CVE:ASQ) were released by: Juniorminingnetwork.com and their article: “Excalibur Update on Orefinders Resources Stockpile Processing in Kirkland Lake” published on October 14, 2016 as well as Juniorminingnetwork.com‘s news article titled: “Amerigo’s MVC Signs Collective Labour Agreement” with publication date: October 14, 2016.

Astorius Resources Ltd. is a Canada exploration-stage resource company. The company has a market cap of $7.52 million. The Company’s principal business activity is the sourcing and exploration of mineral properties in North America, and is engaged in the process of evaluating its mineral properties. It currently has negative earnings. The Firm operates in the segment of acquisition, exploration and development of mineral properties.

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