The stock of Vitreous Glass Inc (CVE:VCI) gapped up by $0.01 today and has $8.81 target or 142.00% above today’s $3.64 share price. The 9 months technical chart setup indicates low risk for the $22.50 million company. The gap was reported on Oct, 28 by Barchart.com. If the $8.81 price target is reached, the company will be worth $31.95M 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 5,100 shares traded hands or 94.36% up from the average. Vitreous Glass Inc (CVE:VCI) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More recent Vitreous Glass Inc (CVE:VCI) news were published by: Marketwired.com which released: “Cashion Acquires Additional Shares of Vitreous Glass Inc.” on January 12, 2015. Also Marketwired.com published the news titled: “Vitreous Glass Inc. Dividend” on October 17, 2016. Wsj.com‘s news article titled: “Glass Shining With Inner Light” with publication date: December 08, 2014 was also an interesting one.
Vitreous Glass Inc. cleans, crushes and sells waste glass to the fiberglass manufacturing industry in the province of Alberta. The company has a market cap of $22.50 million. The Firm operates a waste glass processing plant at Airdrie, Alberta. It has a 11.05 P/E ratio. The Company’s plant gathers post-consumer waste glass from Alberta and elsewhere, crushes it, removes contaminants and sells the final product to approximately three manufacturers of fiberglass building insulation for use as a raw material in their production facilities in Alberta.
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