Some Traders Are Very Bullish on Millennial Lithium Corp After Today’s Gap Up

 Some Traders Are Very Bullish on Millennial Lithium Corp After Today's Gap Up

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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