The stock of PROBE METALS INC (CVE:PRB) gapped down by $0.04 today and has $1.01 target or 6.00% below today’s $1.07 share price. The 8 months technical chart setup indicates high risk for the $99.13M company. The gap down was reported on Nov, 23 by Barchart.com. If the $1.01 price target is reached, the company will be worth $5.95M 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 107,400 shares traded hands or 96.98% up from the average. PROBE METALS INC (CVE:PRB) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More notable recent PROBE METALS INC (CVE:PRB) news were published by: Marketwired.com which released: “Probe Metals Inc. Commences Trading on the TSX Venture Exchange Under the …” on March 17, 2015, also Marketwired.com with their article: “Probe Metals Increases Equity Financing to $13.38 Million” published on July 11, 2016, Marketwired.com published: “Probe Metals Commences 10000 Metre Drilling Program at Val-d’Or East, Quebec” on August 10, 2016. More interesting news about PROBE METALS INC (CVE:PRB) were released by: Marketwired.com and their article: “Probe Metals Announces Closing of Oversubscribed $14.6 Million Financing” published on August 17, 2016 as well as Marketwired.com‘s news article titled: “Probe Metals Announces Graduation to Tier 1 of the TSX Venture Exchange” with publication date: March 02, 2016.
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