Ikkuma Resources Corp’s Big Gap Down Today Points to More Stock Risks

 Ikkuma Resources Corp's Big Gap Down Today Points to More Stock Risks

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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