The stock of Neo Lithium Corp (CVE:NLC) gapped up by $0.02 today and has $2.69 target or 117.00% above today’s $1.24 share price. The 9 months technical chart setup indicates low risk for the $89.08 million company. The gap was reported on Nov, 18 by Barchart.com. If the $2.69 price target is reached, the company will be worth $104.22M 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 82,100 shares traded hands. Neo Lithium Corp (CVE:NLC) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More recent Neo Lithium Corp (CVE:NLC) news were published by: Marketwired.com which released: “Neo Lithium Corp. Announces Completion of Qualifying Transaction and …” on July 19, 2016. Also Business.Financialpost.com published the news titled: “As lithium market booms, explorer Neo Lithium Corp eyes Toronto listing” on July 04, 2016. Marketwatch.com‘s news article titled: “POCML 3 Inc. Enters Into Binding Definitive Agreement With Neo Lithium Corp …” with publication date: April 08, 2016 was also an interesting one.
Neo Lithium Corp is a Canada-based company that holds mineral and surface rights over a discovered lithium salar and brine-reservoir complex in Argentina containing a lithium-rich brine reservoir. The company has a market cap of $89.08 million. The Company’s property is located approximately 250 kilometers to a deep water port in Chile. It currently has negative earnings.
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