The stock of Monarques Gold Corp (CVE:MQR) gapped up by $0.005 today and has $0.32 target or 5.00% above today’s $0.30 share price. The 9 months technical chart setup indicates low risk for the $39.77M company. The gap was reported on Nov, 30 by Barchart.com. If the $0.32 price target is reached, the company will be worth $1.99M 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 113,600 shares traded hands or 33.98% up from the average. Monarques Gold Corp (CVE:MQR) has risen 6.00% since October 31, 2016 and is uptrending. It has outperformed by 0.77% the S&P500.
More important recent Monarques Gold Corp (CVE:MQR) news were published by: Marketwired.com which released: “Rob McEwen and Greg Chamandy Make Strategic Investment in Monarques Gold Corp …” on May 26, 2016, also Prnewswire.com published article titled: “Monarques Gold appoints Adam Buchanan as Director, Corporate Development”, Prnewswire.com published: “Monarques Gold signs an agreement to acquire the Beacon mill and property in …” on July 05, 2016. More interesting news about Monarques Gold Corp (CVE:MQR) was released by: Prnewswire.com and their article: “Monarques Gold closes the Acquisition of the Beacon Mill and Property in Valâ€‘d’Or” with publication date: November 01, 2016.
Monarques Gold Corporation is a Canada exploration-stage company. The company has a market cap of $39.77 million. The Firm is engaged in the acquisition and exploration of mining properties. It currently has negative earnings. It holds interest in the Croinor Gold property, which is a gold mine project.
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