Kennady Diamonds Inc Can’t Burn Your Portfolio. Has Another Gap Up

 Kennady Diamonds Inc Can't Burn Your Portfolio. Has Another Gap Up

The stock of Kennady Diamonds Inc (CVE:KDI) gapped up by $0.07 today and has $3.92 target or 9.00% above today’s $3.60 share price. The 6 months technical chart setup indicates low risk for the $175.35 million company. The gap was reported on Nov, 24 by Barchart.com. If the $3.92 price target is reached, the company will be worth $15.78 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 24,700 shares traded hands. Kennady Diamonds Inc (CVE:KDI) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More important recent Kennady Diamonds Inc (CVE:KDI) news were published by: Theglobeandmail.com which released: “NWT says its ‘Ring of Ice’ diamond deposits rival Ontario’s ‘Ring of Fire'” on August 26, 2014, also Seekingalpha.com published article titled: “Kennady Diamonds: Advancing Kennady North To Production (KDIAF)”, Seekingalpha.com published: “Kennady Diamonds Sample Results Lift Investor Confidence (KDIAF)” on December 27, 2014. More interesting news about Kennady Diamonds Inc (CVE:KDI) was released by: Seekingalpha.com and their article: “Kennady Diamonds Share Price Creeps Higher” with publication date: October 23, 2014.

Kennady Diamonds Inc. is a Canada diamond exploration company. The company has a market cap of $175.35 million. The Firm is a resource company, which is involved in the exploration, discovery, evaluation and development of diamond properties in Canada’s Northwest Territories. It currently has negative earnings. Kennady Diamonds holds interest in over 20 federal leases and approximately 60 claims in the Kennady North diamond project.

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