Time to Sell Cordoba Minerals Corp After Today’s Gap Down?

 Time to Sell Cordoba Minerals Corp After Today's Gap Down?

The stock of Cordoba Minerals Corp (CVE:CDB) gapped down by $0.02 today and has $0.72 target or 6.00% below today’s $0.77 share price. The 5 months technical chart setup indicates high risk for the $66.85M company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.72 price target is reached, the company will be worth $4.01 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 53,350 shares traded hands. Cordoba Minerals Corp (CVE:CDB) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.

More recent Cordoba Minerals Corp (CVE:CDB) news were published by: Marketwired.com which released: “Proposed Acquisition of Common Shares of Cordoba Minerals Corp.” on October 23, 2015. Also Marketwired.com published the news titled: “Robert W. Allen Acquires Ownership in Cordoba Minerals Corp.” on April 08, 2014. Marketwired.com‘s news article titled: “Dias Acquires Securities of Cordoba Minerals Corp” with publication date: January 27, 2015 was also an interesting one.

Cordoba Minerals Corp. is a Canada-based exploration and development firm with exploration projects in Colombia. The company has a market cap of $66.85 million. The Firm is engaged in the acquisition, exploration and development of precious and base metal properties. It currently has negative earnings. It operates through exploration and development of mineral properties segment.

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