The stock of Aldridge Minerals Inc. (CVE:AGM) gapped up by $0.005 today and has $0.32 target or 9.00% above today’s $0.30 share price. The 7 months technical chart setup indicates low risk for the $33.98M company. The gap was reported on Nov, 25 by Barchart.com. If the $0.32 price target is reached, the company will be worth $3.06M 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 43,500 shares traded hands. Aldridge Minerals Inc. (CVE:AGM) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More notable recent Aldridge Minerals Inc. (CVE:AGM) news were published by: Businesswire.com which released: “Aldridge Announces US$45 Million Financing with Orion Mine Finance and …” on August 29, 2014, also Businesswire.com with their article: “Aldridge Announces Resignation of Vice President Project Development” published on September 25, 2015, Marketwired.com published: “APMS Investment Fund Ltd. Reports Decrease in Ownership of Common Shares of …” on September 27, 2016. More interesting news about Aldridge Minerals Inc. (CVE:AGM) were released by: Businesswire.com and their article: “Aldridge Reports Results from its Exploration Drilling Program at Yenipazar” published on May 27, 2015 as well as Businesswire.com‘s news article titled: “Aldridge Hires Jaymes Dircks as EPC Director” with publication date: January 12, 2015.
Aldridge Minerals Inc. is a Canada-based development-stage mining company. The company has a market cap of $33.98 million. The Firm is engaged in the exploration and development of mineral properties in Turkey. It currently has negative earnings. The Company’s divisions are Corporate and Turkey.
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