The stock of Amarillo Gold Corp (CVE:AGC) gapped down by $0.005 today and has $0.27 target or 13.00% below today’s $0.32 share price. The 8 months technical chart setup indicates high risk for the $24.06 million company. The gap down was reported on Nov, 18 by Barchart.com. If the $0.27 price target is reached, the company will be worth $3.13 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 45,000 shares traded hands or 21.06% up from the average. Amarillo Gold Corp (CVE:AGC) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More notable recent Amarillo Gold Corp (CVE:AGC) news were published by: Investorideas.com which released: “Perfect Timing: Amarillo Gold Achieves Key Milestone in Rising Gold Market” on May 25, 2016, also Marketwired.com with their article: “Amarillo Gold, Makes Another Step Towards Developing Its Mara Rosa Project …” published on June 06, 2016, Marketwired.com published: “Amarillo Gold Granted the Preliminary License (LP) for Its Mara Rosa Project …” on May 09, 2016. More interesting news about Amarillo Gold Corp (CVE:AGC) were released by: Juniorminingnetwork.com and their article: “Amarillo Gold Announces Brokered Financing to Raise $2000000” published on October 24, 2016 as well as Stockhouse.com‘s news article titled: “Why Amarillo Gold is the real deal” with publication date: August 09, 2016.
Amarillo Gold Corporation is a development-stage company. The company has a market cap of $24.06 million. The Firm is engaged in the acquisition and exploration of gold properties, principally in Brazil. It currently has negative earnings. The Firm operates through mineral exploration segment.
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