Does VE GOLD CDI 1:1 Have Any Gas After Today’s Gap Down?

 Does VE GOLD CDI 1:1 Have Any Gas After Today's Gap Down?

The stock of VE GOLD CDI 1:1 (ASX:GDX) gapped down by $1.11 today and has $25.69 target or 7.00% below today’s $27.62 share price. The 6 months technical chart setup indicates high risk for the $ company. The gap down was reported on Nov, 24 by Barchart.com. If the $25.69 price target is reached, the company will be worth $ 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%. The stock decreased 5.35% or $1.56 on November 24, hitting $27.62. About 14,404 shares traded hands. VE GOLD CDI 1:1 (ASX:GDX) has risen 2.82% since April 15, 2016 and is uptrending. It has underperformed by 2.59% the S&P500.

Another recent and important VE GOLD CDI 1:1 (ASX:GDX) news was published by Fool.com.Au which published an article titled: “Why these 4 ASX shares sank like stones today” on November 23, 2016.

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