The stock of Nulegacy Gold Corp (CVE:NUG) gapped up by $0.01 today and has $0.29 target or 8.00% above today’s $0.27 share price. The 9 months technical chart setup indicates low risk for the $73.67 million company. The gap was reported on Nov, 25 by Barchart.com. If the $0.29 price target is reached, the company will be worth $5.89M 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 100,470 shares traded hands. Nulegacy Gold Corp (CVE:NUG) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
More important recent Nulegacy Gold Corp (CVE:NUG) news were published by: Seekingalpha.com which released: “Generational Investing Opportunity: Gold Standard Ventures And NuLegacy Gold Corp” on July 25, 2014, also Marketwired.com published article titled: “NuLegacy Gold Closes $6.67 Million Strategic Investment by OceanaGold Corporation”, Marketwired.com published: “NuLegacy Gold Announces $6.67 Million Strategic Investment by OceanaGold …” on April 07, 2016. More interesting news about Nulegacy Gold Corp (CVE:NUG) was released by: Marketwired.com and their article: “NuLegacy Gold Reports on Annual General Meeting” with publication date: November 23, 2016.
NuLegacy Gold Corporation is an exploration company, which is engaged in acquisition and exploration of mineral properties in the United States. The company has a market cap of $73.67 million. The Firm is focused on exploration properties in Eureka County, Nevada. It currently has negative earnings. It is focused on exploring Iceberg Project, which is located in Eureka County, Nevada, and includes approximately 1,300 unpatented lode mining claims covering approximately 100 square kilometers.
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