The stock of Rock Tech Lithium Inc (CVE:RCK) gapped down by $0.11 today and has $0.74 target or 13.00% below today’s $0.85 share price. The 6 months technical chart setup indicates high risk for the $21.91M company. The gap down was reported on Nov, 16 by Barchart.com. If the $0.74 price target is reached, the company will be worth $2.85 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 55,500 shares traded hands or 42.89% up from the average. Rock Tech Lithium Inc (CVE:RCK) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.
More notable recent Rock Tech Lithium Inc (CVE:RCK) news were published by: Juniorminingnetwork.com which released: “Rock Tech Lithium Reports Assay Results From Georgia Lake Lithium Property” on October 11, 2016, also Investingnews.com with their article: “5 Top TSXV Stocks: Rock Tech Lithium and Azimut Up Over 65 Percent” published on April 04, 2016, Investingnews.com published: “Rock Tech Reports Assay Results from Georgia Lake Lithium Property” on November 14, 2016. More interesting news about Rock Tech Lithium Inc (CVE:RCK) were released by: Stockhouse.com and their article: “Rock Tech Announces Private Placement” published on October 27, 2016 as well as Marketwired.com‘s news article titled: “Ultra Lithium Appoints Vice President Exploration” with publication date: August 08, 2016.
Rock Tech Lithium Inc. is a Canada-based mineral exploration company. The company has a market cap of $21.91 million. The Firm holds an interest in the Georgia Lake lithium project in the Thunder Bay Mining District of Ontario. It currently has negative earnings. The Georgia Lake project consists of approximately 80 leases and approximately 20 claims covering approximately 4,590hectares.
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