The stock of TerraX Minerals Inc. (CVE:TXR) gapped down by $0.01 today and has $0.44 target or 9.00% below today’s $0.48 share price. The 8 months technical chart setup indicates high risk for the $38.26M company. The gap down was reported on Nov, 24 by Barchart.com. If the $0.44 price target is reached, the company will be worth $3.44M 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 233,381 shares traded hands or 82.47% up from the average. TerraX Minerals Inc. (CVE:TXR) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More news for TerraX Minerals Inc. (CVE:TXR) were recently published by: Investorintel.com, which released: “TerraX Minerals â€“ Land of the Gold Giants” on February 23, 2016. Investorintel.com‘s article titled: “TerraX hits more high-grade gold as world supply crunch nears” and published on June 06, 2016 is yet another important article.
TerraX Minerals Inc. is a Canada-based company, which is engaged in the exploration and development of mineral properties. The company has a market cap of $38.26 million. The Firm focuses on the Yellowknife City Gold Project , which consists of the Northbelt, Walsh Lake and Southbelt properties in the Northwest Territories, as well as additional claims and property. It currently has negative earnings. The Yellowknife City Gold project lies within the Yellowknife greenstone belt and covers over 15 kilometers of strike length on the northern extension of the shear system that hosts the Con (6.1 million ounces (Moz)) and Giant (8.1 Moz) gold mines.
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