The stock of Timberline Resources Corporation (CVE:TBR) gapped down by $0.065 today and has $0.40 target or 4.00% below today’s $0.42 share price. The 7 months technical chart setup indicates high risk for the $12.00 million company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.40 price target is reached, the company will be worth $480,000 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 65,500 shares traded hands or 476.79% up from the average. Timberline Resources Corporation (CVE:TBR) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More notable recent Timberline Resources Corporation (CVE:TBR) news were published by: Marketwatch.com which released: “Timberline Resources Announces Voluntary Delisting from NYSE MKT” on January 27, 2016, also Marketwired.com with their article: “Timberline Resources Closes Final Tranche of Equity Financing” published on June 30, 2016, Businesswire.com published: “Wolfpack Gold Completes Sale of Wolfpack Gold (Nevada) to Timberline Resources …” on August 15, 2014. More interesting news about Timberline Resources Corporation (CVE:TBR) were released by: Juniorminingnetwork.com and their article: “Timberline Resources Extends Talapoosa Option Agreement with Gunpoint Exploration” published on October 20, 2016 as well as Rttnews.com‘s news article titled: “Timberline Resources Appoints Kiran Patankar As President And CEO – Quick Facts” with publication date: December 19, 2014.
Timberline Resources Corporation is an exploration-stage company. The company has a market cap of $12.00 million. The Firm is engaged in mineral exploration business. It currently has negative earnings. The Firm holds interests in mineral prospects for exploration in Nevada and Montana mainly for target commodities of gold and silver.
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