Some Traders Are Very Bearish on CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) After Today’s Gap Down

 Some Traders Are Very Bearish on CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) After Today's Gap Down

The stock of CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) gapped down by GBX 0.5 today and has GBX 84.28 target or 14.00% below today’s GBX 98.00 share price. The 5 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 18 by Barchart.com. If the GBX 84.28 price target is reached, the company will be worth GBX 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%. The stock decreased 2.49% or GBX 2.5 on November 18, hitting GBX 98. About 51,145 shares traded hands or 36.07% up from the average. CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) has risen 55.81% since April 21, 2016 and is uptrending. It has outperformed by 51.38% the S&P500.

CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) Ratings Coverage

Out of 3 analysts covering Caledonia Mining Corp (LON:CMCL), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Caledonia Mining Corp has been the topic of 18 analyst reports since August 14, 2015 according to StockzIntelligence Inc. Panmure Gordon maintained it with “Buy” rating and GBX 81 target price in Tuesday, July 5 report. The rating was maintained by Panmure Gordon with “Buy” on Tuesday, May 17. As per Tuesday, March 22, the company rating was maintained by Beaufort Securities. The stock of CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) has “Buy” rating given on Friday, February 19 by WH Ireland. The firm earned “Hold” rating on Wednesday, November 2 by Panmure Gordon. Panmure Gordon maintained CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) rating on Monday, September 21. Panmure Gordon has “Buy” rating and GBX 55 price target. Panmure Gordon maintained it with “Buy” rating and GBX 81 target price in Monday, July 11 report. The rating was maintained by WH Ireland on Monday, October 12 with “Buy”. The stock of CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) has “Speculative Buy” rating given on Friday, May 13 by Beaufort Securities. The firm has “Hold” rating given on Friday, August 14 by Beaufort Securities.

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