The stock of Kincora Copper Ltd (CVE:KCC) gapped up by $0.02 today and has $0.50 target or 9.00% above today’s $0.46 share price. The 5 months technical chart setup indicates low risk for the $23.16M company. The gap was reported on Nov, 24 by Barchart.com. If the $0.50 price target is reached, the company will be worth $2.08 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 125,023 shares traded hands or 338.06% up from the average. Kincora Copper Ltd (CVE:KCC) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More news for Kincora Copper Ltd (CVE:KCC) were recently published by: Marketwired.com, which released: “Ivanhoe Industries, LLC : Acquisition of Common Shares and Warrants of Kincora …” on May 27, 2016. Juniorminingnetwork.com‘s article titled: “Kincora Copper Appoints Peter Leaman as Senior Vice-President of Exploration …” and published on November 14, 2016 is yet another important article.
Kincora Copper Limited is an exploration-stage company. The company has a market cap of $23.16 million. The Firm operates as a junior resource company, which is engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia, and is assessing other options in and outside of Mongolia, both with near construction and production assets. It currently has negative earnings. The Company’s asset is the Bronze Fox copper-gold project.
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