Will MARIANA RESOURCES LTD Short Squeeze Soon? The Stock Just Gapped Down

 Will MARIANA RESOURCES LTD Short Squeeze Soon? The Stock Just Gapped Down

The stock of MARIANA RESOURCES LTD (CVE:MARL) gapped down by $0.01 today and has $1.15 target or 4.00% below today’s $1.20 share price. The 6 months technical chart setup indicates high risk for the $156.98 million company. The gap down was reported on Nov, 23 by Barchart.com. If the $1.15 price target is reached, the company will be worth $6.28M 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 200,600 shares traded hands or 61.72% up from the average. MARIANA RESOURCES LTD (CVE:MARL) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.

More notable recent MARIANA RESOURCES LTD (CVE:MARL) news were published by: Globenewswire.com which released: “Mariana Resources Ltd : Renewed Argentinean Focus” on August 24, 2016, also Globenewswire.com with their article: “Mariana Resources Ltd : Issue of Equity Option Exercise” published on September 09, 2016, Globenewswire.com published: “Mariana Resources Ltd: Mariana Commences Trading on the TSXV Today” on July 26, 2016. More interesting news about MARIANA RESOURCES LTD (CVE:MARL) were released by: Globenewswire.com and their article: “Mariana Resources Ltd : Appointment of New Non Executive Directors” published on July 06, 2016 as well as Globenewswire.com‘s news article titled: “Mariana Resources Ltd : Share Issuance Update” with publication date: May 10, 2016.

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