The stock of Defiance Silver Corp (CVE:DEF) gapped up by $0.005 today and has $0.29 target or 8.00% above today’s $0.27 share price. The 6 months technical chart setup indicates low risk for the $25.39M company. The gap was reported on Nov, 28 by Barchart.com. If the $0.29 price target is reached, the company will be worth $2.03M 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 63,000 shares traded hands. Defiance Silver Corp (CVE:DEF) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
Defiance Silver Corp. is an exploration-stage firm and engages principally in the acquisition and exploration of mineral property interests primarily in Mexico. The company has a market cap of $25.39 million. The Firm has the right to acquire an interest in a property and has applied for a second property, both of which are located in Mexico . It currently has negative earnings. The San Acacio silver deposit is located in the Zacatecas Silver District, Mexico.
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