The stock of K92 Mining Inc (CVE:KNT) gapped down by $0.01 today and has $0.82 target or 7.00% below today’s $0.88 share price. The 5 months technical chart setup indicates high risk for the $91.18M company. The gap down was reported on Nov, 24 by Barchart.com. If the $0.82 price target is reached, the company will be worth $6.38M 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 772,786 shares traded hands or 37.17% up from the average. K92 Mining Inc (CVE:KNT) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More important recent K92 Mining Inc (CVE:KNT) news were published by: Marketwatch.com which released: “K92 Mining Inc.” on May 30, 2016, also Marketwired.com published article titled: “K92 Mining Inc.: Kainantu Gold Mine Operational Update”, Marketwired.com published: “K92 Mining Inc. (Formerly Otterburn Resources Corp.) Reverse Take-Over Completed” on May 20, 2016. More interesting news about K92 Mining Inc (CVE:KNT) was released by: Reuters.com and their article: “BRIEF-K92 Mining receives $7.5 million in new capital” with publication date: October 12, 2016.
K92 Mining Inc., formerly Otterburn Resources Corp., is a Canada exploration-stage company. The company has a market cap of $91.18 million. The Firm is engaged in the business of exploration, development and exploitation of mineral resources in Canada. It currently has negative earnings. The Company’s segment operates through the mineral property explorations in Canada.
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