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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