The stock of ALAMOS GOLD INC CLS A (TSE:AGI) gapped down by $0.02 today and has $8.13 target or 3.00% below today’s $8.38 share price. The 5 months technical chart setup indicates high risk for the $2.36B company. The gap down was reported on Nov, 23 by Barchart.com. If the $8.13 price target is reached, the company will be worth $70.80M 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 298,113 shares traded hands. ALAMOS GOLD INC CLS A (TSE:AGI) has risen 8.49% since April 19, 2016 and is uptrending. It has outperformed by 3.16% the S&P500.
ALAMOS GOLD INC CLS A (TSE:AGI) Ratings Coverage
Out of 9 analysts covering Alamos Gold Inc. (TSE:AGI), 5 rate it a “Buy”, 1 “Sell”, while 3 “Hold”. This means 56% are positive. $12.50 is the highest target while $3 is the lowest. The $8.55 average target is 2.03% above today’s ($8.38) stock price. Alamos Gold Inc. has been the topic of 27 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The firm has “Outperform” rating by National Bank Canada given on Friday, August 12. The rating was upgraded by IBC to “Sector Perform” on Wednesday, August 19. The firm has “Sector Outperform” rating by Scotia Capital given on Thursday, August 13. The stock of ALAMOS GOLD INC CLS A (TSE:AGI) has “Hold” rating given on Friday, November 11 by TD Securities. BMO Capital Markets downgraded the stock to “Under Perform” rating in Wednesday, October 7 report. On Friday, July 24 the stock rating was upgraded by Raymond James to “Outperform”. The firm has “Outperform” rating given on Wednesday, August 12 by Howard Weil. The firm earned “Buy” rating on Friday, August 12 by Desjardins Securities.
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