Japan Gold Corp Draws Bearish Focus After Its Gap Down Today

 Japan Gold Corp Draws Bearish Focus After Its Gap Down Today

The stock of Japan Gold Corp (CVE:JG) gapped down by $0.005 today and has $0.31 target or 4.00% below today’s $0.33 share price. The 6 months technical chart setup indicates high risk for the $19.71M company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.31 price target is reached, the company will be worth $788,400 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 187,918 shares traded hands or 99.21% up from the average. Japan Gold Corp (CVE:JG) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.

More important recent Japan Gold Corp (CVE:JG) news were published by: Marketwired.com which released: “Japan Gold Corp. (Formerly Sky Ridge Resources Ltd.) Closes C$7 Million …” on September 16, 2016, also Marketwatch.com published article titled: “Japan Gold Corp.”, Investorideas.com published: “Gold in Japan, the Last Frontier” on October 03, 2016. More interesting news about Japan Gold Corp (CVE:JG) was released by: Marketwired.com and their article: “Japan Gold Invited to Speak at Tokyo Mining Investment Seminar, Files Early …” with publication date: September 23, 2016.

Japan Gold Corp, formerly Sky Ridge Resources Ltd, is a Canada gold exploration firm that focuses on assets in Japan. The company has a market cap of $19.71 million.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment