The stock of CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) gapped down by GBX 4 today and has GBX 78.12 target or 7.00% below today’s GBX 84.00 share price. The 7 months technical chart setup indicates high risk for the GBX company. The gap down was reported on Nov, 30 by Barchart.com. If the GBX 78.12 price target is reached, the company will be worth GBX 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%. The stock decreased 5.62% or GBX 5 on November 30, hitting GBX 84. About 99,381 shares traded hands or 164.41% up from the average. CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) has risen 16.78% since May 4, 2016 and is uptrending. It has outperformed by 11.56% the S&P500.
CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) Ratings Coverage
Out of 3 analysts covering Caledonia Mining Corp (LON:CMCL), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Caledonia Mining Corp has been the topic of 18 analyst reports since August 14, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by WH Ireland on Thursday, November 12. On Monday, September 21 the stock rating was maintained by Panmure Gordon with “Buy”. The firm has “Buy” rating given on Friday, February 19 by WH Ireland. On Wednesday, November 2 the stock rating was maintained by Panmure Gordon with “Hold”. As per Thursday, September 1, the company rating was downgraded by Panmure Gordon. Panmure Gordon upgraded the stock to “Buy” rating in Thursday, May 12 report. The rating was maintained by Beaufort Securities with “Speculative Buy” on Tuesday, March 22. The company was maintained on Tuesday, May 17 by Panmure Gordon. The company was maintained on Monday, October 12 by WH Ireland. WH Ireland maintained CALEDONIA MINING CORPORATION PLC COM SHS NPV (DI) (LON:CMCL) rating on Thursday, December 3. WH Ireland has “Buy” rating and GBX 90 price target.
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