Could Coral Gold Resources Ltd. Change Direction After Today’s Gap Up?

 Could Coral Gold Resources Ltd. Change Direction After Today's Gap Up?

The stock of Coral Gold Resources Ltd. (CVE:CLH) gapped up by $0.01 today and has $0.31 target or 8.00% above today’s $0.29 share price. The 9 months technical chart setup indicates low risk for the $13.92M company. The gap was reported on Nov, 25 by Barchart.com. If the $0.31 price target is reached, the company will be worth $1.11M 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 75,000 shares traded hands or 220.16% up from the average. Coral Gold Resources Ltd. (CVE:CLH) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More notable recent Coral Gold Resources Ltd. (CVE:CLH) news were published by: Marketwired.com which released: “Coral Announces Sale of Robertson Property, Nevada” on June 21, 2016, also Bloomberg.com with their article: “Gold Miners Set to Relax Death Grip on Spending as Caution Eases” published on July 19, 2016, Business.Financialpost.com published: “Barrick Gold Corp quits Nevada mining project citing budget constraints” on May 15, 2015. More interesting news about Coral Gold Resources Ltd. (CVE:CLH) were released by: Bloomberg.com and their article: “Barrick Gold CEO Sees Growth in Nevada Following ‘Reset'” published on May 27, 2014 as well as Investingnews.com‘s news article titled: “Levon Resources” with publication date: July 09, 2015.

Coral Gold Resources Ltd. is an exploration-stage company. The company has a market cap of $13.92 million. The Company’s principal business activities are the acquisition, exploration and development of mineral properties. It has a 647.73 P/E ratio. It operates through mineral exploration and development activities segment.

CLH.V Company Profile

Coral Gold Resources Ltd. (Coral), incorporated on January 22, 1981, is an exploration-stage company. The Company’s principal business activities are the acquisition, exploration and development of mineral properties. The Firm operates through mineral exploration and development activities segment. The Company’s principal exploration activities are focused on the Robertson mining claims located in Crescent Valley, Nevada. The Company’s properties include Robertson Property and Gold Ridge Property. The Company’s Robertson property is an advanced-stage exploration project located along the Battle Mountain/Cortez Gold trend in north-central Nevada. The Gold Ridge Property consists of approximately 100 claims covering over 2.5 square miles and is adjacent to the western side of the Robertson claim block located in North Central Nevada on the Cortez Gold Trend. It has completed over three vertical diamond core holes, RGR-0001D through RGR-0003D, to depths of between 955 meters and 1,255 meters, for a total of approximately 3,190 meters.

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