Is Selling Eurasian Minerals Inc. Here a Winning Strategy? The Stock Just Gapped Down

 Is Selling Eurasian Minerals Inc. Here a Winning Strategy? The Stock Just Gapped Down

The stock of Eurasian Minerals Inc. (CVE:EMX) gapped down by $0.01 today and has $1.22 target or 7.00% below today’s $1.31 share price. The 8 months technical chart setup indicates high risk for the $94.29M company. The gap down was reported on Nov, 25 by Barchart.com. If the $1.22 price target is reached, the company will be worth $6.60 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 8,900 shares traded hands. Eurasian Minerals Inc. (CVE:EMX) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More recent Eurasian Minerals Inc. (CVE:EMX) news were published by: Marketwatch.com which released: “Eurasian Minerals Inc.” on February 04, 2012. Also Marketwired.com published the news titled: “Eurasian Minerals Executes Definitive Agreement For the Sale of Four …” on November 22, 2016. Marketwired.com‘s news article titled: “Eurasian Minerals Options the Copper King Project to Kennecott and Announces …” with publication date: October 19, 2016 was also an interesting one.

Eurasian Minerals Inc. is engaged in the business of exploring for metals and minerals properties. The company has a market cap of $94.29 million. The Company’s exploration portfolio consists of properties in North America, Turkey, Europe, Haiti, Australia and New Zealand. It currently has negative earnings. The Firm operates through the resource industry segment.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Related posts

Leave a Comment