The stock of Ucore Rare Metals Inc. (CVE:UCU) gapped up by $0.005 today and has $0.50 target or 66.00% above today’s $0.30 share price. The 8 months technical chart setup indicates low risk for the $74.29 million company. The gap was reported on Nov, 15 by Barchart.com. If the $0.50 price target is reached, the company will be worth $49.03M 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 102,124 shares traded hands. Ucore Rare Metals Inc. (CVE:UCU) has risen 6.00% since October 16, 2016 and is uptrending. It has outperformed by 2.07% the S&P500.
More recent Ucore Rare Metals Inc. (CVE:UCU) news were published by: Marketwired.com which released: “Concept Capital Management Ltd. Acquires Units of Ucore Rare Metals Inc.” on June 09, 2016. Also Marketwired.com published the news titled: “Ucore Announces Development of US Strategic Metals Complex” on November 15, 2016. Seekingalpha.com‘s news article titled: “Ucore: 6 Reasons Why We Remain Skeptical” with publication date: February 24, 2016 was also an interesting one.
Ucore Rare Metals Inc. is a junior exploration and technology company. The company has a market cap of $74.29 million. The Firm is engaged in the exploration and development of rare earth element properties within Canada and the United States. It currently has negative earnings. The Firm is focusing its exploration activities on its Bokan Mountain/Dotson Ridge property in Alaska.
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