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.
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