The stock of Gold Reserve Inc (CVE:GRZ) gapped down by $0.09 today and has $4.99 target or 8.00% below today’s $5.42 share price. The 7 months technical chart setup indicates high risk for the $504.07M company. The gap down was reported on Nov, 28 by Barchart.com. If the $4.99 price target is reached, the company will be worth $40.33M 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 8,921 shares traded hands. Gold Reserve Inc (CVE:GRZ) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More notable recent Gold Reserve Inc (CVE:GRZ) news were published by: Seekingalpha.com which released: “Gold Reserve, Inc.: A High-Risk/High-Reward Opportunity” on November 21, 2016, also Bloomberg.com with their article: “Gold Reserve Shares Surge on $770 Million Venezuelan Settlement” published on August 08, 2016, Seekingalpha.com published: “Should You Risk Buying Gold Reserve Inc. In Light Of Venezuela’s $1 Billion …” on October 10, 2016. More interesting news about Gold Reserve Inc (CVE:GRZ) were released by: Bloomberg.com and their article: “Venezuela Says Gold Reserve Accord Paves Way to Investment” published on February 25, 2016 as well as Business.Financialpost.com‘s news article titled: “Gold Reserve deal with Venezuela a potential turning point for Canadian miners …” with publication date: March 01, 2016.
Gold Reserve Inc. is an exploration-stage company. The company has a market cap of $504.07 million. The Firm is engaged in the business of acquiring, exploring and developing mining projects. It currently has negative earnings. It operates in the exploration and development of mineral properties segment.
GRZ.V Company Profile
Gold Reserve Inc. (Gold Reserve), incorporated in 1998, is an exploration-stage company. The Firm is engaged in the business of acquiring, exploring and developing mining projects. During the year ended December 31, 2010, the Company disposed of its 45% interest in Great Basin Energies, Inc. (Great Basin) and 44% interest in MGC Ventures Inc. (MGC Ventures).
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