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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.