The stock of Faircourt Gold Income Corp. (TSE:FGX) gapped up by $0.05 today and has $3.78 target or 5.00% above today’s $3.60 share price. The 7 months technical chart setup indicates low risk for the $18.52 million company. The gap was reported on Nov, 25 by Barchart.com. If the $3.78 price target is reached, the company will be worth $926,000 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 12,400 shares traded hands or 110.99% up from the average. Faircourt Gold Income Corp. (TSE:FGX) has declined 4.92% since April 21, 2016 and is downtrending. It has underperformed by 10.33% the S&P500.
More important recent Faircourt Gold Income Corp. (TSE:FGX) news were published by: Theglobeandmail.com which released: “Gold: Safe haven or just another volatile commodity?” on February 23, 2016, also Theglobeandmail.com published article titled: “Eye on Shorts: What bearish investors are betting against”, Seekingalpha.com published: “Gold Bullion ETFs, Closed-End Funds, Or Gold Mining Stocks – Which Is The Best …” on November 06, 2012. More interesting news about Faircourt Gold Income Corp. (TSE:FGX) was released by: Reuters.com and their article: “Faircourt Gold declares distribution” with publication date: October 20, 2014.
Faircourt Gold Income Corp. is a closed-end fund. The company has a market cap of $18.52 million. The Firm provides investors with exposure to the global companies primarily involved in gold exploration, mining or production, while also providing a tax efficient yield in the form of monthly distributions. It currently has negative earnings. The Company’s investment objectives are to provide Shareholders with monthly distributions, initially targeted to yield approximately 5% per annum based on the issue price of $10.00 per Class A Share, and the opportunity for capital appreciation.
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