The stock of Opsens Inc. (CVE:OPS) gapped up by $0.01 today and has $4.65 target or 182.00% above today’s $1.65 share price. The 7 months technical chart setup indicates low risk for the $120.80M company. The gap was reported on Oct, 28 by Barchart.com. If the $4.65 price target is reached, the company will be worth $219.86M 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 61,221 shares traded hands or 4.42% up from the average. Opsens Inc. (CVE:OPS) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
Opsens Inc. provides fiber optic sensing technology. The company has a market cap of $120.80 million. The Firm operates through two divisions: Medical and Industrial. It currently has negative earnings. In Medical segment, the Company focuses on the measure of Fractional Flow Reserve in interventional cardiology.
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