The stock of Ikkuma Resources Corp (CVE:IKM) gapped down by $0.02 today and has $0.76 target or 12.00% below today’s $0.86 share price. The 8 months technical chart setup indicates high risk for the $81.05M company. The gap down was reported on Nov, 18 by Barchart.com. If the $0.76 price target is reached, the company will be worth $9.73 million 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 17,720 shares traded hands. Ikkuma Resources Corp (CVE:IKM) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
Another recent and important Ikkuma Resources Corp (CVE:IKM) news was published by Marketwired.com which published an article titled: “Ikkuma Resources Corp. Announces $7.0 Million Bought Deal Private Placement of …” on April 27, 2016.
Ikkuma Resources Corp. , formerly Panterra Resource Corp., is a Canada gas and oil exploration and production company. The company has a market cap of $81.05 million. The Firm focuses on developing properties in the foothills of Alberta and British Columbia. It currently has negative earnings.
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