The stock of Angkor Gold Corp (CVE:ANK) gapped down by $0.01 today and has $0.39 target or 3.00% below today’s $0.41 share price. The 7 months technical chart setup indicates high risk for the $40.99 million company. The gap down was reported on Nov, 25 by Barchart.com. If the $0.39 price target is reached, the company will be worth $1.23 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 50,000 shares traded hands or 8.30% up from the average. Angkor Gold Corp (CVE:ANK) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More recent Angkor Gold Corp (CVE:ANK) news were published by: Globenewswire.com which released: “ANGKOR GOLD CORP.: Discovery of Two New Mineral Targets in Cambodia” on October 28, 2014. Also Investingnews.com published the news titled: “Angkor Gold” on November 25, 2015. Marketwired.com‘s news article titled: “Angkor Announces Commencement of Preparation of Technical Report Under …” with publication date: October 07, 2016 was also an interesting one.
Angkor Gold Corp. is a Canada-based mineral exploration company. The company has a market cap of $40.99 million. The Firm is focused on mineral property interests located in the Kingdom of Cambodia in the Banlung and Oyadao Regions. It currently has negative earnings. The Company’s licenses include Andong Meas Exploration License, Banlung Exploration License, Banlung North Exploration License, Oyadao Exploration License and Oyadao South Exploration License.
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