The stock of Nexoptic Technology Corp (CVE:NXO) gapped up by $0.01 today and has $0.95 target or 64.00% above today’s $0.58 share price. The 8 months technical chart setup indicates low risk for the $30.99M company. The gap was reported on Oct, 28 by Barchart.com. If the $0.95 price target is reached, the company will be worth $19.83 million 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 137,058 shares traded hands. Nexoptic Technology Corp (CVE:NXO) has risen 6.00% since September 28, 2016 and is uptrending. It has outperformed by 1.29% the S&P500.
More notable recent Nexoptic Technology Corp (CVE:NXO) news were published by: Marketwatch.com which released: “Nexoptic Technology Corp.” on July 04, 2016, also Marketwired.com with their article: “Nexoptic and Spectrum Announce Lens Stack Depth to Aperture Ratio of Near 1:1 …” published on February 29, 2016, Marketwired.com published: “Elissa Becomes Nexoptic, Change of Business Completed” on February 19, 2016. More interesting news about Nexoptic Technology Corp (CVE:NXO) were released by: Marketwired.com and their article: “NexOptic and Spectrum Provide Technology Development Update: Draft of Lens …” published on March 17, 2016 as well as Marketwired.com‘s news article titled: “NexOptic and Spectrum Order All Optical Elements to Construct Their First of …” with publication date: July 06, 2016.
NexOptic Technology Corp., formerly Elissa Resources Ltd. is a Canada technology company. The company has a market cap of $30.99 million. The Firm invests in the area of optical and lens technologies. It currently has negative earnings. The Company’s divisions include USA and Canada.
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