The stock of First Mining Finance Corp (CVE:FF) gapped down by $0.02 today and has $0.67 target or 9.00% below today’s $0.74 share price. The 7 months technical chart setup indicates high risk for the $388.83 million company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.67 price target is reached, the company will be worth $34.99 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 345,414 shares traded hands. First Mining Finance Corp (CVE:FF) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More important recent First Mining Finance Corp (CVE:FF) news were published by: Prnewswire.com which released: “First Mining Finance Corp. Presentation Now Available for On-Demand Viewing” on October 06, 2016, also Seekingalpha.com published article titled: “First Mining Finance Is Building A Mineral Bank”, Bloomberg.com published: “Elliott-Backed Triple Flag Lining Up First Mining Finance Deals” on August 27, 2016. More interesting news about First Mining Finance Corp (CVE:FF) was released by: Reuters.com and their article: “BRIEF-First Mining Finance qtrly loss per share $0.02” with publication date: August 12, 2016.
First Mining Finance Corp., formerly Albion Petroleum Ltd., is a mineral property holding firm whose principal business activity is to acquire mineral assets with a focus in the Americas. The company has a market cap of $388.83 million. The Firm holds a portfolio of over 30 mineral assets in Canada, Mexico and the United States with a focus on gold. It currently has negative earnings. It has going exploration programs for gold, silver, lead, zinc and copper funded through the sale of equity and joint venture partnerships.
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