Could TOACHI MINING INC Change Direction After Today’s Gap Down?

 Could TOACHI MINING INC Change Direction After Today's Gap Down?

The stock of TOACHI MINING INC (CVE:TIM) gapped down by $0.01 today and has $0.30 target or 13.00% below today’s $0.35 share price. The 9 months technical chart setup indicates high risk for the $14.96 million company. The gap down was reported on Nov, 17 by Barchart.com. If the $0.30 price target is reached, the company will be worth $1.94M 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 52,000 shares traded hands. TOACHI MINING INC (CVE:TIM) has risen 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.

More notable recent TOACHI MINING INC (CVE:TIM) news were published by: Marketwatch.com which released: “Toachi Mining Inc. Generates New Exploration Targets Reprocessed Historic …” on August 29, 2016, also Marketwatch.com with their article: “Ferrum Americas Announces Name Change to Toachi Mining Inc.” published on March 14, 2016, Juniorminingnetwork.com published: “Toachi Mining Announces $4 Million Bought Deal Offering” on November 02, 2016. More interesting news about TOACHI MINING INC (CVE:TIM) were released by: Stockhouse.com and their article: “Toachi Mining Inc. Announces Issuance of Options” published on September 09, 2016 as well as Stockhouse.com‘s news article titled: “Toachi Mining Inc. Starts Drill Program at La Plata Project. Developing the …” with publication date: August 15, 2016.

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