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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