The stock of Mineral Mountain Resources Ltd (CVE:MMV) gapped up by $0.01 today and has $0.44 target or 7.00% above today’s $0.42 share price. The 6 months technical chart setup indicates low risk for the $19.64 million company. The gap was reported on Nov, 29 by Barchart.com. If the $0.44 price target is reached, the company will be worth $1.37M 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 60,000 shares traded hands or 130.68% up from the average. Mineral Mountain Resources Ltd (CVE:MMV) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More notable recent Mineral Mountain Resources Ltd (CVE:MMV) news were published by: Marketwired.com which released: “Mineral Mountain Resources Ltd.: $1.5 Million Non-Brokered Private Placement” on April 17, 2015, also Marketwired.com with their article: “Mineral Mountain Announces Share Consolidation Effective Date” published on April 08, 2016, Marketwired.com published: “Mineral Mountain Announces Annual General Meeting Results and Termination of …” on November 23, 2016. More interesting news about Mineral Mountain Resources Ltd (CVE:MMV) were released by: Marketwired.com and their article: “Mineral Mountain Signs an Exploration Agreement With Option to Purchase the …” published on September 12, 2016 as well as Marketwired.com‘s news article titled: “Mineral Mountain Announces Closing of Oversubscribed Financing” with publication date: September 19, 2016.
Mineral Mountain Resources Ltd. is an exploration-stage company. The company has a market cap of $19.64 million. The Firm is primarily engaged in the acquisition, exploration and development of approximately two iron hosted gold projects located in the Black Hills area of South Dakota, the United States. It currently has negative earnings. The Company’s Rochford Gold Project is located in the Rochford Mining District of the Black Hills, South Dakota.
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