Stock Action Indicates More Gains Can CanAlaska Uranium Ltd’s Tomorrow be Different? The Stock Just Gapped Up
Linda Rogers • March 25, 2016 The stock of CanAlaska Uranium Ltd (CVE:CVV) gapped up by $0.025 today and has $0.86 target or 96.00% above today’s $0.44 share price. The 7 months technical chart setup indicates low risk for the $10.65 million company. The gap was reported on Mar, 26 by Barchart.com. If the $0.86 price target is reached, the company will be worth $10.22M 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%. The stock increased 12.82% or $0.05 on March 24, hitting $0.44. About 127,116 shares traded hands or 33.07% up from the average. CanAlaska Uranium Ltd (CVE:CVV) has risen 6.00% since February 25, 2016 and is uptrending. It has outperformed by 8.10% the S&P500.
CanAlaska Uranium Ltd. is an exploration stage company. The company has a market cap of $10.65 million. The Firm is engaged in the acquisition and exploration of mineral properties, principally in Canada. It currently has negative earnings. The Firm is focused on exploration for high-grade uranium deposits in the Athabasca Basin area of Saskatchewan.
https://www.stockcaller.com/can-canalaska-uranium-ltds-tomorrow-be-different-the-stock-just-gapped-up/69105/