Could Pure Energy Minerals Ltd Lose Strenght? The Stock Just Gapped Up

 Could Pure Energy Minerals Ltd Lose Strenght? The Stock Just Gapped Up

The stock of Pure Energy Minerals Ltd (CVE:PE) gapped up by $0.01 today and has $0.76 target or 8.00% above today’s $0.70 share price. The 8 months technical chart setup indicates low risk for the $55.11M company. The gap was reported on Nov, 30 by Barchart.com. If the $0.76 price target is reached, the company will be worth $4.41 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 1.53M shares traded hands or 462.54% up from the average. Pure Energy Minerals Ltd (CVE:PE) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.

More notable recent Pure Energy Minerals Ltd (CVE:PE) news were published by: Globenewswire.com which released: “Pure Energy Minerals Commences Drilling Newest Lithium Brine Exploration …” on November 30, 2016, also Juniorminingnetwork.com with their article: “Pure Energy Minerals and Cypress Development Announce Results from Sampling …” published on November 28, 2016, Globenewswire.com published: “Pure Energy Minerals Ltd. Announces Lithium Supply Agreement” on September 16, 2015. More interesting news about Pure Energy Minerals Ltd (CVE:PE) were released by: Marketwired.com and their article: “Pure Energy Minerals Announces Results from Phase 2 Drill Program and Provides …” published on May 10, 2016 as well as Investingnews.com‘s news article titled: “Why Did Pure Energy Minerals Jump 20 Percent?” with publication date: March 01, 2016.

Pure Energy Minerals Limited is a Canada mineral resource company. The company has a market cap of $55.11 million. The Firm is engaged in the exploration and development of mineral properties, with a focus on lithium brines and related processing of brines into lithium compounds. It currently has negative earnings. The Company’s material project is the Clayton Valley South Lithium Brine Project , located in Clayton Valley, Esmeralda County, Nevada.

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