The stock of IBC Advanced Alloys Corp (CVE:IB) gapped down by $0.01 today and has $0.44 target or 9.00% below today’s $0.48 share price. The 6 months technical chart setup indicates high risk for the $14.50M company. The gap down was reported on Nov, 30 by Barchart.com. If the $0.44 price target is reached, the company will be worth $1.31 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 50,113 shares traded hands or 61.51% up from the average. IBC Advanced Alloys Corp (CVE:IB) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More news for IBC Advanced Alloys Corp (CVE:IB) were recently published by: Seekingalpha.com, which released: “IBC Advanced Alloys (IAALF) Corporate Update Conference (Transcript)” on June 23, 2016. Midasletter.com‘s article titled: “IBC Advanced Alloys Corp CEO Anthony Dutton on Lockheed Martin Deal” and published on July 22, 2015 is yet another important article.
IBC Advanced Alloys Corp. is an alloys and precision castings company. The company has a market cap of $14.50 million. The Firm is engaged in developing and manufacturing alloys, including beryllium-aluminum alloys and specialty copper alloys. It currently has negative earnings. The Company’s divisions include Copper Alloys, Engineered Materials and Corporate.
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