The stock of Cordoba Minerals Corp (CVE:CDB) gapped up by $0.01 today and has $0.92 target or 8.00% above today’s $0.85 share price. The 8 months technical chart setup indicates low risk for the $71.13 million company. The gap was reported on Nov, 22 by Barchart.com. If the $0.92 price target is reached, the company will be worth $5.69 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 20,000 shares traded hands. Cordoba Minerals Corp (CVE:CDB) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More important recent Cordoba Minerals Corp (CVE:CDB) news were published by: Marketwired.com which released: “Proposed Acquisition of Common Shares of Cordoba Minerals Corp.” on October 23, 2015, also Marketwired.com published article titled: “Dias Acquires Securities of Cordoba Minerals Corp”, Marketwired.com published: “Robert W. Allen Acquires Ownership in Cordoba Minerals Corp.” on April 08, 2014. More interesting news about Cordoba Minerals Corp (CVE:CDB) was released by: Juniorminingnetwork.com and their article: “Cordoba Minerals and HPX Initiate Phase Three of Their Joint Venture at the …” with publication date: November 10, 2016.
Cordoba Minerals Corp. is a Canada-based exploration and development firm with exploration projects in Colombia. The company has a market cap of $71.13 million. The Firm is engaged in the acquisition, exploration and development of precious and base metal properties. It currently has negative earnings. It operates through exploration and development of mineral properties segment.