The stock of Prospero Silver Corp. (CVE:PSL) gapped down by $0.015 today and has $0.34 target or 4.00% below today’s $0.35 share price. The 9 months technical chart setup indicates high risk for the $3.21 million company. The gap down was reported on Nov, 23 by Barchart.com. If the $0.34 price target is reached, the company will be worth $128,400 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 40,300 shares traded hands. Prospero Silver Corp. (CVE:PSL) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More notable recent Prospero Silver Corp. (CVE:PSL) news were published by: Marketwired.com which released: “Prospero Announces Increase to Private Placement Offering” on August 11, 2016, also Marketwired.com with their article: “Prospero Announces Private Placement Offering” published on August 08, 2016, Marketwired.com published: “Prospero Provides Project Updates” on October 24, 2016. More interesting news about Prospero Silver Corp. (CVE:PSL) were released by: Prnewswire.com and their article: “Golden Minerals Begins Drill Program at San Luis del Cordero” published on March 02, 2016 as well as Prnewswire.com‘s news article titled: “Golden Minerals Acquires Mining Rights For Cordero Property” with publication date: November 16, 2015.
Prospero Silver Corp. is engaged in acquiring and exploring mineral resource properties. The company has a market cap of $3.21 million. The Firm operates through the acquisition, exploration and development of mineral properties segment. It currently has negative earnings. It has mineral property interests located in Mexico undergoing preliminary exploration.
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