The stock of Rupert Resources Ltd (CVE:RUP) gapped up by $0.01 today and has $1.56 target or 103.00% above today’s $0.77 share price. The 7 months technical chart setup indicates low risk for the $62.85M company. The gap was reported on Nov, 18 by Barchart.com. If the $1.56 price target is reached, the company will be worth $64.74 million 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 34,500 shares traded hands or 2.44% up from the average. Rupert Resources Ltd (CVE:RUP) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More notable recent Rupert Resources Ltd (CVE:RUP) news were published by: Marketwired.com which released: “Rupert Resources Signs 6 Month Option Agreement to Acquire Pahtavaara Gold …” on March 17, 2016, also Marketwired.com with their article: “Rupert Resources Exercises Purchase Option on the Pahtavaara Gold Mine in …” published on August 30, 2016, Marketwired.com published: “Rupert Resources Ltd. Appoints Arthur Millholland, P. Geo to the Board of …” on March 04, 2014. More interesting news about Rupert Resources Ltd (CVE:RUP) were released by: Reuters.com and their article: “BRIEF-Rupert Resources announces closing of CAD$7.7 million convertible de…” published on September 06, 2016 as well as Marketwired.com‘s news article titled: “Rupert Resources Announces Appointment of Brian Hinchcliffe as President and …” with publication date: March 24, 2016.
Rupert Resources Ltd. is a gold exploration and development company. The company has a market cap of $62.85 million. The Firm is engaged in the acquisition and exploration of mineral properties in Canada. It currently has negative earnings. The Firm is seeking out mineral exploration and evaluation opportunities and has over two projects located in Ontario and British Columbia.
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