The stock of American Lithium Corp (CVE:LI) gapped up by $0.005 today and has $0.35 target or 5.00% above today’s $0.33 share price. The 6 months technical chart setup indicates low risk for the $16.80M company. The gap was reported on Nov, 28 by Barchart.com. If the $0.35 price target is reached, the company will be worth $840,000 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 371,351 shares traded hands. American Lithium Corp (CVE:LI) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More recent American Lithium Corp (CVE:LI) news were published by: Prnewswire.com which released: “Nevada Energy Metals Announces Update: American Lithium Corp Joint Venture in …” on July 19, 2016. Also Prnewswire.com published the news titled: “American Lithium Announces the Appointment of Internationally-recognized …” on June 13, 2016. Prnewswire.com‘s news article titled: “American Lithium Retains Dr. John S. Oldow to Provide Technical Consulting …” with publication date: June 07, 2016 was also an interesting one.
American Lithium Corp., formerly Menika Mining Ltd., is an exploration-stage company. The company has a market cap of $16.80 million. The Firm is engaged in the acquisition, exploration and development of lithium deposits throughout the Americas. It currently has negative earnings. It holds options to acquire Nevada lithium brine claims totaling over 20,790 acres, including over 18,550 acres in Fish Lake Valley, Esmeralda County, and the 2,240-acre San Emidio Project in Washoe County.
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