The stock of Broadway Gold Mining Ltd (CVE:BRD) gapped up by $0.02 today and has $0.53 target or 5.00% above today’s $0.50 share price. The 5 months technical chart setup indicates low risk for the $12.72M company. The gap was reported on Nov, 25 by Barchart.com. If the $0.53 price target is reached, the company will be worth $636,000 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 136,000 shares traded hands or 243.20% up from the average. Broadway Gold Mining Ltd (CVE:BRD) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More recent Broadway Gold Mining Ltd (CVE:BRD) news were published by: Marketwired.com which released: “Broadway Gold Mining Engages Primoris Group for Media and Investor Relations …” on October 18, 2016. Also Investingnews.com published the news titled: “Carolina Capital Changes Name to Broadway Gold Mining” on October 17, 2016. Marketwired.com‘s news article titled: “Duane Parnham Appointed to Broadway Gold Board and Named Chairman” with publication date: October 19, 2016 was also an interesting one.
Broadway Gold Mining Ltd, formerly Carolina Capital Corp, is a Canada company, which owns an interest in the Madison Gold and Copper Mine . The company has a market cap of $12.72 million. The Madison Mine is subject to underlying royalties, located in the Silver Star Mining District of southeastern Montana. It currently has negative earnings. The Madison Mine is located approximately 40 kilometers southeast of Butte, Montana, the location of the Butte copper mine.
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