old news from yesterday Investors look to Lighten Up on Shares of Allied Nevada Gold, Shares Down 5.5% (ANV)
Allied Nevada Gold (AMEX:ANV) is one of today's worst performing low-priced stocks, down 5.5% to $2.06 on 1.4x average daily volume. Thus far today, Allied Nevada Gold has traded 4.4 million shares, vs. average volume of 3.1 million shares per day. The stock has underperformed the Dow (-5.5% to the Dow's -0.1%) and underperformed the S&P 500 (-5.5% to the S&P's -0.2%) during today's trading.
Potential upside of 27.9% exists for Allied Nevada Gold, based on a current level of $2.06 and analysts' average consensus price target of $2.63. The stock should run into initial resistance at its 50-day moving average (MA) of $3.16 and subsequent resistance at its 200-day MA of $3.83.
Allied Nevada Gold Corporation evaluates, acquires, explores, and advances gold exploration and potential development projects. The Company's holdings include projects in Nevada, California, Idaho and Colorado in the United States, as well as Bolivia, Mexico, Indonesia and Australia.
In the past 52 weeks, Allied Nevada Gold share prices have been bracketed by a current low of $1.96 and a high of $6.70 and are now at $2.06. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Allied Nevada Gold on October 6th, 2014 by issuing a Downtrend alert when the shares were trading at $2.97. Since that call, shares of Allied Nevada Gold have fallen 26.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com
Allied Nevada Gold (AMEX:ANV) is one of today's worst performing low-priced stocks, down 5.5% to $2.06 on 1.4x average daily volume. Thus far today, Allied Nevada Gold has traded 4.4 million shares, vs. average volume of 3.1 million shares per day. The stock has underperformed the Dow (-5.5% to the Dow's -0.1%) and underperformed the S&P 500 (-5.5% to the S&P's -0.2%) during today's trading.
Potential upside of 27.9% exists for Allied Nevada Gold, based on a current level of $2.06 and analysts' average consensus price target of $2.63. The stock should run into initial resistance at its 50-day moving average (MA) of $3.16 and subsequent resistance at its 200-day MA of $3.83.
Allied Nevada Gold Corporation evaluates, acquires, explores, and advances gold exploration and potential development projects. The Company's holdings include projects in Nevada, California, Idaho and Colorado in the United States, as well as Bolivia, Mexico, Indonesia and Australia.
In the past 52 weeks, Allied Nevada Gold share prices have been bracketed by a current low of $1.96 and a high of $6.70 and are now at $2.06. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.6% while the 200-day MA has slid 0.7%.
SmarTrend recommended that its subscribers protect gains by selling shares of Allied Nevada Gold on October 6th, 2014 by issuing a Downtrend alert when the shares were trading at $2.97. Since that call, shares of Allied Nevada Gold have fallen 26.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Write to Chip Brian at cbrian@mysmartrend.com