Could Nevada Zinc Corp See a Reversal After Having a Gap Up Today?

 Could Nevada Zinc Corp See a Reversal After Having a Gap Up Today?

The stock of Nevada Zinc Corp (CVE:NZN) gapped up by $0.02 today and has $0.59 target or 8.00% above today’s $0.55 share price. The 7 months technical chart setup indicates low risk for the $39.53 million company. The gap was reported on Nov, 30 by Barchart.com. If the $0.59 price target is reached, the company will be worth $3.16 million 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 731,833 shares traded hands or 420.15% up from the average. Nevada Zinc Corp (CVE:NZN) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

More notable recent Nevada Zinc Corp (CVE:NZN) news were published by: Reuters.com which released: “BRIEF-Norvista Capital says announces equity interest in Nevada Zinc Corp” on November 24, 2016, also Globenewswire.com with their article: “Nevada Zinc Reports on Yukon Gold Project Developments Including New Property …” published on August 08, 2016, Globenewswire.com published: “Nevada Zinc Appoints Duane Parnham Chairman” on December 02, 2015. More interesting news about Nevada Zinc Corp (CVE:NZN) were released by: Investorintel.com and their article: “Nevada Zinc’s drilling hits broad zone as global zinc enthusiasm grows” published on August 11, 2016 as well as Globenewswire.com‘s news article titled: “Nevada Zinc Commences Drilling at Lone Mountain” with publication date: May 24, 2016.

Nevada Zinc Corporation, formerly Goldspike Exploration Inc., is a Canada mineral exploration company. The company has a market cap of $39.53 million. The Firm is engaged in mineral exploration in Nevada, the United States and Yukon, Canada. It currently has negative earnings. The Firm operates through two divisions, being the mineral exploration in Canada and United States.

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