The stock of Sirios Resources Inc (CVE:SOI) gapped down by $0.01 today and has $0.40 target or 6.00% below today’s $0.43 share price. The 6 months technical chart setup indicates high risk for the $44.10M company. The gap down was reported on Nov, 22 by Barchart.com. If the $0.40 price target is reached, the company will be worth $2.65 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 38,868 shares traded hands. Sirios Resources Inc (CVE:SOI) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More recent Sirios Resources Inc (CVE:SOI) news were published by: Benzinga.com which released: “SIRIOS Resources Inc.: Granting of Stock Options” on October 21, 2016. Also Marketwired.com published the news titled: “SIRIOS Resources Inc.: Progress Report on the Current Exploration Program on …” on August 10, 2016. Marketwired.com‘s news article titled: “SIRIOS Resources Inc.: Visible Gold Observed in a New Drill Hole on the …” with publication date: October 21, 2014 was also an interesting one.
Sirios Resources Inc. is an exploration company. The company has a market cap of $44.10 million. The Firm is focused on discovering gold deposits in the James Bay region of Eastern Canada. It currently has negative earnings. The Firm holds interest in The Cheechoo project, which is located approximately 320 kilometers north of Matagami, in Quebec, and approximately nine kilometers east of the Eleonore gold mine of Goldcorp Inc.
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