What’s Next for Energold Drilling Corp After Today’s Gap Up?

 What's Next for Energold Drilling Corp After Today's Gap Up?

The stock of Energold Drilling Corp (CVE:EGD) gapped up by $0.02 today and has $2.52 target or 190.00% above today’s $0.87 share price. The 6 months technical chart setup indicates low risk for the $47.55 million company. The gap was reported on Nov, 16 by Barchart.com. If the $2.52 price target is reached, the company will be worth $90.35 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 15,500 shares traded hands. Energold Drilling Corp (CVE:EGD) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.

More notable recent Energold Drilling Corp (CVE:EGD) news were published by: Seekingalpha.com which released: “Energold Drilling Corp. – How To Get Indirect Exposure To The Precious Metals …” on October 12, 2015, also Marketwired.com with their article: “Energold Drilling Announces Acquisition of Cros-Man Direct Underground Ltd.” published on March 07, 2016, Seekingalpha.com published: “Energold Drilling’s (EGDFF) CEO Frederick Davidson on Q2 2016 Results …” on August 25, 2016. More interesting news about Energold Drilling Corp (CVE:EGD) were released by: Seekingalpha.com and their article: “Energold Drilling – Still Gloomy Performance But A Few Positives On The Horizon” published on December 03, 2015 as well as Seekingalpha.com‘s news article titled: “Energold Drilling Gives You The Opportunity To Buy $1 For $0.75 (EGDFF)” with publication date: February 07, 2015.

Energold Drilling Corp., through its subsidiaries, provides drilling services. The company has a market cap of $47.55 million. The Firm operates through three divisions: Minerals, Manufacturing and Energy. It currently has negative earnings. The Minerals segment provides drilling services in the minerals industry for parties in North America, Mexico, the Caribbean, Central America, South America, Africa and Europe.

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