The stock of BARSELE MINERALS CORP (CVE:BME) gapped up by $0.03 today and has $1.09 target or 9.00% above today’s $1.00 share price. The 8 months technical chart setup indicates low risk for the $98.13M company. The gap was reported on Nov, 30 by Barchart.com. If the $1.09 price target is reached, the company will be worth $8.83M 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 32,500 shares traded hands. BARSELE MINERALS CORP (CVE:BME) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More recent BARSELE MINERALS CORP (CVE:BME) news were published by: Juniorminingnetwork.com which released: “Barsele Minerals JV Partner Increases 2016 Exploration Budget by $US2.5 …” on October 27, 2016. Also Marketwatch.com published the news titled: “Orex and Barsele Announce Completion of the Spin Out of Orex’s Interest in the …” on September 25, 2015. Marketwatch.com‘s news article titled: “Barsele Grants Stock Options” with publication date: November 26, 2016 was also an interesting one.
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