What’s Next for Avino Silver and Gold Mines Ltd After Today’s Gap Down?

 What's Next for Avino Silver and Gold Mines Ltd After Today's Gap Down?

The stock of Avino Silver and Gold Mines Ltd (CVE:ASM) gapped down by $0.4 today and has $1.78 target or 6.00% below today’s $1.89 share price. The 9 months technical chart setup indicates high risk for the $81.79 million company. The gap down was reported on Nov, 22 by Barchart.com. If the $1.78 price target is reached, the company will be worth $4.91M 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 221,359 shares traded hands or 367.32% up from the average. Avino Silver and Gold Mines Ltd (CVE:ASM) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.

More important recent Avino Silver and Gold Mines Ltd (CVE:ASM) news were published by: Streetinsider.com which released: “Avino Silver & Gold Mines (ASM) Enters $10M Bought-Deal Common Stock Offering” on November 22, 2016, also Prnewswire.com published article titled: “Avino Silver & Gold Mines Ltd. Revises Date of Third Quarter 2016 Financial …”, Quotes.Wsj.com published: “News Avino Silver & Gold Mines Ltd.ASM” on March 05, 2011. More interesting news about Avino Silver and Gold Mines Ltd (CVE:ASM) was released by: Prnewswire.com and their article: “Avino Silver & Gold Mines Ltd. Third Quarter 2016 Financial Results to be …” with publication date: October 31, 2016.

Avino Silver and Gold Mines Ltd is a Canada resource company. The company has a market cap of $81.79 million. It is focused on silver, gold, and copper exploration, extraction and processing. It has a 68.93 P/E ratio. It extracts resources and processes a bulk concentrate at the San Gonzalo Mine and a copper concentrate from the Avino Mine, both of which are located on the Avino property in Durango, Mexico.

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