The stock of Condor Gold PLC (LON:CNR) gapped down by GBX 0.45 today and has GBX 44.16 target or 8.00% below today’s GBX 48.00 share price. The 7 months technical chart setup indicates high risk for the GBX 25.30 million company. The gap down was reported on Nov, 29 by Barchart.com. If the GBX 44.16 price target is reached, the company will be worth GBX 2.02 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%. The stock decreased 6.80% or GBX 3.5 on November 29, hitting GBX 48. About 41,878 shares traded hands. Condor Gold PLC (LON:CNR) has declined 15.65% since May 2, 2016 and is downtrending. It has underperformed by 20.91% the S&P500.
Condor Gold PLC (LON:CNR) Ratings Coverage
Out of 2 analysts covering Condor Gold PLC (LON:CNR), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Condor Gold PLC has been the topic of 10 analyst reports since August 18, 2015 according to StockzIntelligence Inc. The company was maintained on Tuesday, October 11 by Numis Securities. Beaufort Securities maintained the stock with “Speculative Buy” rating in Wednesday, December 2 report. The rating was maintained by Numis Securities with “Buy” on Tuesday, July 19. The stock has “Buy” rating given by Numis Securities on Friday, November 11. The stock has “Speculative Buy” rating given by Beaufort Securities on Tuesday, August 18. The firm has “Speculative Buy” rating given on Monday, January 25 by Beaufort Securities. Numis Securities maintained it with “Buy” rating and GBX 80 target price in Tuesday, January 19 report. The stock has “Speculative Buy” rating given by Beaufort Securities on Wednesday, September 16. On Tuesday, January 19 the stock rating was maintained by Beaufort Securities with “Speculative Buy”. Beaufort Securities maintained Condor Gold PLC (LON:CNR) on Monday, March 21 with “Speculative Buy” rating.
Condor Gold PLC is a gold exploration company. The company has a market cap of 25.30 million GBP. The Firm operates projects in Nicaragua and El Salvador. It currently has negative earnings. The Company’s interests include approximately 10 concessions in the La India Mining District in Nicaragua, and over four licenses in approximately two project areas in El Salvador.
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