The stock of Millennial Lithium Corp (CVE:ML) gapped up by $0.01 today and has $1.52 target or 9.00% above today’s $1.39 share price. The 7 months technical chart setup indicates low risk for the $42.83 million company. The gap was reported on Nov, 28 by Barchart.com. If the $1.52 price target is reached, the company will be worth $3.85 million 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 187,620 shares traded hands. Millennial Lithium Corp (CVE:ML) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More notable recent Millennial Lithium Corp (CVE:ML) news were published by: Reuters.com which released: “BRIEF-Millennial lithium announces signing of agreement with Southern Lith…” on November 18, 2016, also Marketwatch.com with their article: “Millennial Lithium Announces Signing of Definitive Agreement With Southern …” published on November 18, 2016, Marketwatch.com published: “Southern Lithium Corp. Announces Definitive Agreement with Millennial Lithium …” on November 16, 2016. More interesting news about Millennial Lithium Corp (CVE:ML) were released by: Marketwatch.com and their article: “Millennial Lithium Corp.” published on November 15, 2016 as well as Marketwired.com‘s news article titled: “Millennial Lithium Corp.: Clarification of Statement in September 26 News Release” with publication date: September 28, 2016.
Millennial Lithium Corp, formerly Redhill Resources Corp, is a Canada exploration and development company. The company has a market cap of $42.83 million. The Firm is focused on lithium assets located in Argentina. It currently has negative earnings. The Firm owns interests in Pastos Grandes Lithium Project.
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