Will MARIANA RESOURCES LTD Short Squeeze Soon? The Stock Just Gapped Up

 Will MARIANA RESOURCES LTD Short Squeeze Soon? The Stock Just Gapped Up

The stock of MARIANA RESOURCES LTD (CVE:MARL) gapped up by $0.03 today and has $1.50 target or 7.00% above today’s $1.40 share price. The 6 months technical chart setup indicates low risk for the $145.86M company. The gap was reported on Nov, 24 by Barchart.com. If the $1.50 price target is reached, the company will be worth $10.21 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 35,000 shares traded hands. MARIANA RESOURCES LTD (CVE:MARL) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More important recent MARIANA RESOURCES LTD (CVE:MARL) news were published by: Globenewswire.com which released: “Mariana Resources Ltd : Renewed Argentinean Focus” on August 24, 2016, also Globenewswire.com published article titled: “Mariana Resources Ltd : Appointment of New Non Executive Directors”, Globenewswire.com published: “Mariana Resources Ltd : Issue of Equity Option Exercise” on September 09, 2016. More interesting news about MARIANA RESOURCES LTD (CVE:MARL) was released by: Globenewswire.com and their article: “Mariana Resources Ltd: Mariana Commences Trading on the TSXV Today” with publication date: July 26, 2016.

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