The stock of Purpose Fund Corp (TSE:PDF) gapped up by $0.06 today and has $77.20 target or 199.00% above today’s $25.82 share price. The 8 months technical chart setup indicates low risk for the $279.53M company. The gap was reported on Oct, 18 by Barchart.com. If the $77.20 price target is reached, the company will be worth $556.26M 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 15,644 shares traded hands or 136.28% up from the average. Purpose Fund Corp (TSE:PDF) has risen 3.22% since March 15, 2016 and is uptrending. It has underperformed by 2.27% the S&P500.
More notable recent Purpose Fund Corp (TSE:PDF) news were published by: Businesswire.com which released: “SoftBank Group Corp. to Establish SoftBank Vision Fund” on October 13, 2016, also Latimes.com with their article: “Haim Saban’s media investment fund to go public” published on September 20, 2016, Bloomberg.com published: “Henderson’s $6 Billion Fund Manager Is Hedging for Equity Slumps” on October 18, 2016. More interesting news about Purpose Fund Corp (TSE:PDF) were released by: Valuewalk.com and their article: “SolarCity Corp Raises $300 Million More Ahead Of Tesla Merger” published on October 18, 2016 as well as Wsj.com‘s news article titled: “One Place Where Passive Investing Doesn’t Rule: Bonds” with publication date: October 18, 2016.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.