The stock of BARSELE MINERALS CORP (CVE:BME) gapped down by $0.02 today and has $0.90 target or 3.00% below today’s $0.93 share price. The 6 months technical chart setup indicates high risk for the $103.29M company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.90 price target is reached, the company will be worth $3.10 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 71,000 shares traded hands or 32.68% up from the average. BARSELE MINERALS CORP (CVE:BME) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More news for BARSELE MINERALS CORP (CVE:BME) were recently published by: Marketwatch.com, which released: “Orex and Barsele Announce Completion of the Spin Out of Orex’s Interest in the …” on September 25, 2015. Juniorminingnetwork.com‘s article titled: “Barsele Minerals JV Partner Increases 2016 Exploration Budget by $US2.5 …” and published on October 27, 2016 is yet another important article.
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