Is Major Move Coming For Royal Canadian Mint After This Gap Down?

 Is Major Move Coming For Royal Canadian Mint After This Gap Down?

The stock of Royal Canadian Mint (TSE:MNT) gapped down by $0.08 today and has $15.93 target or 4.00% below today’s $16.59 share price. The 7 months technical chart setup indicates high risk for the $471.02M company. The gap down was reported on Dec, 1 by Barchart.com. If the $15.93 price target is reached, the company will be worth $18.84 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 20,416 shares traded hands. Royal Canadian Mint (TSE:MNT) has declined 0.30% since April 27, 2016 and is downtrending. It has underperformed by 6.22% the S&P500.

More notable recent Royal Canadian Mint (TSE:MNT) news were published by: Washingtonpost.com which released: “Royal Canadian Mint employee allegedly smuggled $140000 worth of gold in his butt” on September 21, 2016, also Cbc.ca with their article: “Royal Canadian Mint unveils its 2017 Canada 150 circulation coin series” published on November 02, 2016, Wsj.com published: “MintChip Digital Currency Sold to NanoPay by Royal Canadian Mint” on January 12, 2016. More interesting news about Royal Canadian Mint (TSE:MNT) were released by: Cbc.ca and their article: “Royal Canadian Mint issues collector coin for royal visit” published on September 27, 2016 as well as Cbc.ca‘s news article titled: “MintChip launch Tuesday brings Canadian-made digital cash to consumers” with publication date: June 21, 2016.

The Royal Canadian Mint is an agent company. The company has a market cap of $471.02 million. The Firm is engaged in producing various circulation coins used in Canada and manages the support distribution system for the Government of Canada. It currently has negative earnings. The Firm is the producer of circulation, collector and bullion investment coins for the domestic and international marketplace.

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