The stock of Southern Silver Exploration Corp (CVE:SSV) gapped down by $0.005 today and has $0.30 target or 7.00% below today’s $0.33 share price. The 8 months technical chart setup indicates high risk for the $27.18M company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.30 price target is reached, the company will be worth $1.90 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 76,729 shares traded hands. Southern Silver Exploration Corp (CVE:SSV) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More recent Southern Silver Exploration Corp (CVE:SSV) news were published by: Marketwatch.com which released: “Southern Silver Exploration Corp.” on April 21, 2011. Also Marketwired.com published the news titled: “Electrum Global Holdings L.P. Acquires Securities of Southern Silver …” on March 08, 2016. Etfdailynews.com‘s news article titled: “These Six Mining Stocks Could be the Next Acquisition Targets” with publication date: July 22, 2016 was also an interesting one.
Southern Silver Exploration Corp. is an exploration-stage company. The company has a market cap of $27.18 million. The Company’s principal business activities include the acquisition, exploration and development of natural resource properties for enhancement of value and disposition pursuant to sales agreements or development by way of third-party option and/or joint venture agreements. It currently has negative earnings. The Company’s properties include Cerro Las Minitas and Oro.
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