The stock of Golden Valley Mines Ltd. (CVE:GZZ) gapped up by $0.005 today and has $0.71 target or 108.00% above today’s $0.34 share price. The 5 months technical chart setup indicates low risk for the $40.00 million company. The gap was reported on Nov, 18 by Barchart.com. If the $0.71 price target is reached, the company will be worth $43.20M 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 29,900 shares traded hands. Golden Valley Mines Ltd. (CVE:GZZ) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More important recent Golden Valley Mines Ltd. (CVE:GZZ) news were published by: Marketwired.com which released: “Golden Valley Mines Ltd./Corporate Update: New Director Appointed to Board” on March 16, 2016, also Marketwired.com published article titled: “Golden Valley Mines Ltd. Engages Maxit Capital LP as Financial Advisor”, Marketwired.com published: “Golden Valley Mines 2014 Exploration Update” on July 18, 2014. More interesting news about Golden Valley Mines Ltd. (CVE:GZZ) was released by: Marketwired.com and their article: “Golden Valley Enters Into Option Agreement With Bonterra Resources Inc.” with publication date: March 11, 2016.
Golden Valley Mines Ltd. is engaged in the exploration and evaluation of minerals in Canada. The company has a market cap of $40.00 million. The Firm operates in a segment, being the sector of exploration and evaluation of mineral resources. It has a 6.95 P/E ratio. The Firm holds over 90 exploration and evaluation properties located in the Abitibi Greenstone Belt; the James Bay, Mistassini and Otish regions of northern Quebec; the Nunavik region of northern Quebec; the Athabasca Basin of Saskatchewan, and James Bay Lowlands of Ontario.
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