The stock of Regulus Resources Inc (CVE:REG) gapped down by $0.01 today and has $1.13 target or 3.00% below today’s $1.16 share price. The 5 months technical chart setup indicates high risk for the $75.30 million company. The gap down was reported on Nov, 29 by Barchart.com. If the $1.13 price target is reached, the company will be worth $2.26M 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 43,400 shares traded hands or 2.67% up from the average. Regulus Resources Inc (CVE:REG) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More notable recent Regulus Resources Inc (CVE:REG) news were published by: Reuters.com which released: “BRIEF-Regulus Resources says to increase amount of offering from 8.4 mln u…” on July 06, 2016, also Marketwired.com with their article: “Regulus Resources Announces Agreements for Collaborative Exploration at …” published on May 18, 2016, Marketwired.com published: “Regulus Announces Cdn$10 Million Private Placement” on July 05, 2016. More interesting news about Regulus Resources Inc (CVE:REG) were released by: Marketwired.com and their article: “Regulus and Southern Legacy Announce Closing of Arrangement” published on October 01, 2014 as well as Marketwired.com‘s news article titled: “Regulus Announces Closing of Financing” with publication date: July 27, 2016.
Regulus Resources Inc. is a mineral exploration company. The company has a market cap of $75.30 million. The Company’s projects include Golden Brew, Rio Grande, El Camino, La Frontera, Aguas Calientes, Catua and Fireweed. It currently has negative earnings. It has around 50% interest in the Rio Grande copper gold porphyry project , held through its wholly-owned subsidiary Mineras Antares Argentina S.A.
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