The stock of Eurasian Minerals Inc. (CVE:EMX) gapped up by $0.02 today and has $2.69 target or 96.00% above today’s $1.37 share price. The 8 months technical chart setup indicates low risk for the $110.33 million company. The gap was reported on Nov, 17 by Barchart.com. If the $2.69 price target is reached, the company will be worth $105.92 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%. The stock last traded at $1.37 per share. It is up 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.
More important recent Eurasian Minerals Inc. (CVE:EMX) news were published by: Marketwatch.com which released: “Eurasian Minerals Inc.” on February 04, 2012, also Marketwired.com published article titled: “Eurasian Minerals Options Mineral Hill Property to Coeur Explorations, Inc.”, Twst.com published: “Eurasian Minerals Inc.: Eurasian Minerals Sells the Ophir Property in Utah” on October 17, 2016. More interesting news about Eurasian Minerals Inc. (CVE:EMX) was released by: Reuters.com and their article: “BRIEF-Eurasian Minerals sells the Ophir property in Utah” with publication date: October 17, 2016.
Eurasian Minerals Inc. is engaged in the business of exploring for metals and minerals properties. The company has a market cap of $110.33 million. The Company’s exploration portfolio consists of properties in North America, Turkey, Europe, Haiti, Australia and New Zealand. It currently has negative earnings. The Firm operates through the resource industry segment.
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