The stock of Riverside Resources Inc. (CVE:RRI) gapped up by $0.01 today and has $0.56 target or 9.00% above today’s $0.51 share price. The 9 months technical chart setup indicates low risk for the $18.88 million company. The gap was reported on Nov, 22 by Barchart.com. If the $0.56 price target is reached, the company will be worth $1.70 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 31,142 shares traded hands. Riverside Resources Inc. (CVE:RRI) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More important recent Riverside Resources Inc. (CVE:RRI) news were published by: Marketwired.com which released: “Partner Funded Exploration Work Now Underway at Riverside’s Glor Gold Project” on September 12, 2016, also Marketwatch.com published article titled: “Drilling Commences at Riverside’s Thor Copper Project in Sonora, Mexico”, Marketwired.com published: “Riverside Appoints Ron Burk as Vice President of Exploration” on September 06, 2016. More interesting news about Riverside Resources Inc. (CVE:RRI) was released by: Finance.Yahoo.com and their article: “Riverside Receives $650000 in Proceeds From Private Sale of 3000000 Croesus …” with publication date: October 31, 2016.
Riverside Resources Inc. is a Canada mineral exploration and development company. The company has a market cap of $18.88 million. The Firm is engaged in the acquisition, exploration and development of exploration and evaluation assets in the Americas, including Canada, the United States and Mexico. It currently has negative earnings. The Company’s business segment is the exploration of exploration and evaluation assets.
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