The stock of Golden Predator Mining Corp (CVE:GPY) gapped down by $0.01 today and has $0.48 target or 7.00% below today’s $0.52 share price. The 9 months technical chart setup indicates high risk for the $35.60M company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.48 price target is reached, the company will be worth $2.49M 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 319,600 shares traded hands or 1.64% up from the average. Golden Predator Mining Corp (CVE:GPY) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More important recent Golden Predator Mining Corp (CVE:GPY) news were published by: Reuters.com which released: “BRIEF-FCMI Parent acquires securities of Golden Predator Mining” on May 28, 2016, also Business.Financialpost.com published article titled: “Podcast: Golden Predator Mining CEO Bill Sheriff on the next Yukon gold rush”, Marketwired.com published: “Pat Di Capo and PowerOne Capital Markets Acquire Securities of Golden Predator …” on May 26, 2016. More interesting news about Golden Predator Mining Corp (CVE:GPY) was released by: Investingnews.com and their article: “Golden Predator” with publication date: September 26, 2016.
Golden Predator Mining Corp., formerly Northern Tiger Resources, Inc., is an exploration-stage company. The company has a market cap of $35.60 million. The Firm is a resource exploration firm focused on gold and copper exploration in the Yukon and Nevada. It currently has negative earnings. The Firm operates in two divisions, which is the exploration and development of resource properties in Canada and the United States.
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