The stock of Kincora Copper Ltd (CVE:KCC) gapped down by $0.01 today and has $0.36 target or 9.00% below today’s $0.40 share price. The 9 months technical chart setup indicates high risk for the $20.33 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $0.36 price target is reached, the company will be worth $1.83 million 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 65,500 shares traded hands or 99.88% up from the average. Kincora Copper Ltd (CVE:KCC) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More news for Kincora Copper Ltd (CVE:KCC) were recently published by: Marketwired.com, which released: “Ivanhoe Industries, LLC : Acquisition of Common Shares and Warrants of Kincora …” on May 27, 2016. Juniorminingnetwork.com‘s article titled: “Kincora Copper Appoints Peter Leaman as Senior Vice-President of Exploration …” and published on November 14, 2016 is yet another important article.
Kincora Copper Limited is an exploration-stage company. The company has a market cap of $20.33 million. The Firm operates as a junior resource company, which is engaged in the acquisition, exploration and development of mineral properties, with a focus on copper-gold projects in Mongolia, and is assessing other options in and outside of Mongolia, both with near construction and production assets. It currently has negative earnings. The Company’s asset is the Bronze Fox copper-gold project.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.