Some Traders Are Very Bullish on NORTH AMERICAN PALLADIUM LTD After Today’s Gap Up

 Some Traders Are Very Bullish on NORTH AMERICAN PALLADIUM LTD After Today's Gap Up

The stock of NORTH AMERICAN PALLADIUM LTD (TSE:PDL) gapped up by $0.15 today and has $6.40 target or 7.00% above today’s $5.98 share price. The 7 months technical chart setup indicates low risk for the $325.51 million company. The gap was reported on Dec, 1 by Barchart.com. If the $6.40 price target is reached, the company will be worth $22.79 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 31,626 shares traded hands or 765.99% up from the average. NORTH AMERICAN PALLADIUM LTD (TSE:PDL) has risen 9.59% since April 27, 2016 and is uptrending. It has outperformed by 3.66% the S&P500.

More notable recent NORTH AMERICAN PALLADIUM LTD (TSE:PDL) news were published by: Seekingalpha.com which released: “North American Palladium: A Broken Dream Or The End Of A Long Journey For …” on April 16, 2015, also Seekingalpha.com with their article: “North American Palladium Ltd: A Financial Death Spiral In Process” published on February 12, 2014, Seekingalpha.com published: “North American Palladium: After Sharp Rise And The ‘Sell On The News’ Drop …” on March 04, 2015. More interesting news about NORTH AMERICAN PALLADIUM LTD (TSE:PDL) were released by: Cbc.ca and their article: “Total of 61 positions cut at North American Palladium’s Lac Des Iles mine …” published on September 30, 2015 as well as Marketwired.com‘s news article titled: “North American Palladium Receives Notice of Non-Compliance from NYSE MKT” with publication date: April 17, 2015.

PDL.TO Company Profile

North American Palladium Ltd. (NAP), incorporated on September 12, 1991, is a platinum group metal (PGM) producer on a permitted property. The Company’s only material asset is the Lac des Iles property. The Company’s northwestern Ontario platinum group element (PGE) greenfields properties consist of over 28,000 hectares of land and capture various discrete intrusive bodies. In addition to its approximately 8,650 hectares Lac des Iles property, the Company holds the rights to various PGE and gold properties in Ontario. The Firm has ownership in a joint venture for the Shebandowan nickel-copper-PGE property, including the past-producing Shebandowan nickel sulfide mine. The complete Ontario land package, including the LDI Mine, PGE greenfields properties, gold properties and the Shebandowan joint venture property totals approximately 47,710 hectares.

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