The stock of Karmin Exploration Inc. (CVE:KAR) gapped up by $0.025 today and has $0.44 target or 37.00% above today’s $0.32 share price. The 7 months technical chart setup indicates low risk for the $20.53M company. The gap was reported on Nov, 17 by Barchart.com. If the $0.44 price target is reached, the company will be worth $7.60 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 105,000 shares traded hands or 1116.40% up from the average. Karmin Exploration Inc. (CVE:KAR) has risen 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.
More notable recent Karmin Exploration Inc. (CVE:KAR) news were published by: Finance.Yahoo.com which released: “Karmin Announces Developments at the AripuanÃ£ Zinc Project” on November 16, 2016, also Businesswire.com with their article: “Karmin Announces Significant Developments at AripuanÃ£ Zinc Project and …” published on November 17, 2015, Businesswire.com published: “Karmin Announces Milpo’s Approval of the Purchase of a Participation in the …” on November 04, 2014. More interesting news about Karmin Exploration Inc. (CVE:KAR) were released by: Businesswire.com and their article: “Karmin Announces Progress at the AripuanÃ£ Zinc Project” published on April 08, 2016 as well as Prnewswire.com‘s news article titled: “FX Energy Announces Independent Reserve Report Estimates for the Karmin and …” with publication date: December 01, 2014.
Karmin Exploration Inc. is engaged in mineral exploration and development of base metals and gold opportunities in Brazil through its subsidiary, Karmin Holding Ltda. The company has a market cap of $20.53 million. The Company’s divisions are Brazil and Peru. It currently has negative earnings. The Cushuro Project is in the Huamachuco Gold-Mining District in the sierras of northwestern Peru, and includes a gold-mineralized zone (Zona Cushuro).