The stock of Vanity Capital Inc (CVE:VYC) gapped down by $0.17 today and has $0.48 target or 5.00% below today’s $0.51 share price. The 5 months technical chart setup indicates high risk for the $4.52 million company. The gap down was reported on Nov, 28 by Barchart.com. If the $0.48 price target is reached, the company will be worth $226,000 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 28,500 shares traded hands or 1530.43% up from the average. Vanity Capital Inc (CVE:VYC) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More news for Vanity Capital Inc (CVE:VYC) were recently published by: Marketwired.com, which released: “Vanity Signs Option Agreement With IAMGOLD Corporation to Purchase the …” on August 19, 2016. Techcrunch.com‘s article titled: “Meet the speakers and judges of Disrupt London 2016” and published on November 28, 2016 is yet another important article.
Vanity Capital Inc. is engaged in the acquisition and exploration of exploration and evaluation assets located in Canada. The company has a market cap of $4.52 million. The Firm has an interest in the Ore Chimney property located near Bishop Corners, Ontario. It currently has negative earnings.
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