Will Southern Lithium Corp Short Squeeze Soon? The Stock Just Gapped Down

 Will Southern Lithium Corp Short Squeeze Soon? The Stock Just Gapped Down

The stock of Southern Lithium Corp (CVE:SNL) gapped down by $0.025 today and has $0.26 target or 5.00% below today’s $0.27 share price. The 9 months technical chart setup indicates high risk for the $7.77M company. The gap down was reported on Nov, 25 by Barchart.com. If the $0.26 price target is reached, the company will be worth $388,500 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 42,683 shares traded hands or 157985.19% up from the average. Southern Lithium Corp (CVE:SNL) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More notable recent Southern Lithium Corp (CVE:SNL) news were published by: Marketwatch.com which released: “Southern Lithium Corp. Announces Definitive Agreement with Millennial Lithium …” on November 16, 2016, also Marketwatch.com with their article: “Millennial Lithium Announces Signing of Definitive Agreement With Southern …” published on November 18, 2016, Reuters.com published: “BRIEF-Millennial lithium announces signing of agreement with Southern Lith…” on November 18, 2016. More interesting news about Southern Lithium Corp (CVE:SNL) were released by: Marketwatch.com and their article: “Southern Lithium Corp. (SNL) Announces Frankfurt Stock Exchange Listing” published on November 08, 2016 as well as Marketwatch.com‘s news article titled: “Southern Lithium Corp. (SNL) Announces Letter of Intent with Millennial …” with publication date: November 03, 2016.

Signal Exploration Inc. is a Canada exploration-stage company. The company has a market cap of $7.77 million. The Firm is a resource exploration firm that is engaged in the business of acquiring and exploring mineral properties. It currently has negative earnings. The Company’s principal asset and project is its interest in the Scotch Creek Property, which consists of approximately eight map-staked mineral claims covering a total area of approximately 1,384.12 hectares located in the Kamloops Mining Division and in the Kamloops Land District in Shuswap Highland of south-central British Columbia.

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