The stock of Alphamin Resources Corp (CVE:AFM) gapped up by $0.01 today and has $0.41 target or 4.00% above today’s $0.39 share price. The 9 months technical chart setup indicates low risk for the $167.08 million company. The gap was reported on Nov, 30 by Barchart.com. If the $0.41 price target is reached, the company will be worth $6.68 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 72,500 shares traded hands. Alphamin Resources Corp (CVE:AFM) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More notable recent Alphamin Resources Corp (CVE:AFM) news were published by: Marketwired.com which released: “Alphamin Resources Corp.: Granting of Mining License” on February 09, 2015, also Reuters.com with their article: “BRIEF-Alphamin Resources says managing director of democratic republic of …” published on September 19, 2016, Juniorminingnetwork.com published: “Alphamin Resources Announces Completion of US$8.5 Million Private Placement” on October 17, 2016. More interesting news about Alphamin Resources Corp (CVE:AFM) were released by: Bloomberg.com and their article: “Congo’s War-Torn East Earmarked for $123 Million Tin Mine” published on March 01, 2016 as well as Juniorminingnetwork.com‘s news article titled: “Alphamin Resources Provides Bisie Project Update/Announces Private Placement” with publication date: September 08, 2016.
Alphamin Resources Corp. is a Mauritius firm engaged in tin exploration and mining business. The company has a market cap of $167.08 million. The Firm is engaged in the business of locating, acquiring, exploring, evaluating and, if warranted, developing mineral properties. It currently has negative earnings. The Company’s exploration and evaluation assets are located in the Democratic Republic of the Congo.
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