The stock of Lion One Metals Ltd (CVE:LIO) gapped up by $0.01 today and has $0.81 target or 4.00% above today’s $0.78 share price. The 5 months technical chart setup indicates low risk for the $76.73M company. The gap was reported on Nov, 23 by Barchart.com. If the $0.81 price target is reached, the company will be worth $3.07 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 30,500 shares traded hands or 31.66% up from the average. Lion One Metals Ltd (CVE:LIO) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More recent Lion One Metals Ltd (CVE:LIO) news were published by: Marketwired.com which released: “Lion One Announces Non-Brokered Private Placement” on August 29, 2016. Also Marketwired.com published the news titled: “Lion One Announces Grant of Mining Lease Approved for High Grade Tuvatu Gold …” on March 23, 2015. Marketwired.com‘s news article titled: “Lion One Announces Completion of $38 Million Private Placement” with publication date: September 16, 2016 was also an interesting one.
Lion One Metals Limited is engaged in the business of acquiring, exploring, and developing mineral properties. The company has a market cap of $76.73 million. The Firm has non-material exploration properties, including a tenement interest in the Olary Creek iron project in South Australia, and over two exploration properties covering over 27,490 hectares within two special prospecting licenses on the island of Vanua Levu in Fiji. It currently has negative earnings. The Company’s primary asset is the Tuvatu Gold Project located near Nadi on the island of Viti Levu, Fiji.
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