The stock of Rockridge Capital Corp (CVE:RRC) gapped up by $0.06 today and has $0.44 target or 5.00% above today’s $0.42 share price. The 5 months technical chart setup indicates low risk for the $1.52 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 $76,000 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 59,500 shares traded hands or 45.58% up from the average. Rockridge Capital Corp (CVE:RRC) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
Another recent and important Rockridge Capital Corp (CVE:RRC) news was published by Juniorminingnetwork.com which published an article titled: “Strongbow Announces Corporate Changes and New Director” on September 01, 2015.
Rockridge Capital Corp. is a Canada gold resource exploration firm focused on advancing its and gold project in Mali, West Africa. The company has a market cap of $1.52 million. The Firm is in the process of exploring and developing its properties. It currently has negative earnings. The Company’s activity is exploring and developing the Fatou property and the investigation of other potential transactions in the spectrum of mineral resource exploration and development.