The stock of Urbana Corp (TSE:URB) gapped up by $0.03 today and has $6.34 target or 164.00% above today’s $2.40 share price. The 8 months technical chart setup indicates low risk for the $126.88M company. The gap was reported on Nov, 3 by Barchart.com. If the $6.34 price target is reached, the company will be worth $208.08 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 13,100 shares traded hands or 439.76% up from the average. Urbana Corp (TSE:URB) has risen 21.69% since March 30, 2016 and is uptrending. It has outperformed by 20.48% the S&P500.
More important recent Urbana Corp (TSE:URB) news were published by: Reuters.com which released: “BRIEF-Urbana Corp increases investment in Real Matters by $1.6 mln” on November 01, 2016, also Seekingalpha.com published article titled: “Urbana Corp.: Deeply Discounted Canadian Closed-End Fund”, Marketwired.com published: “Urbana Corporation Increases Its Investment in Real Matters Inc.” on November 01, 2016. More interesting news about Urbana Corp (TSE:URB) was released by: Business.Financialpost.com and their article: “Real Matters Corp. deal could set the stage for Canada’s next technology IPO” with publication date: March 17, 2016.
Urbana Corporation is a Canada investment company. The company has a market cap of $126.88 million. The Firm is a non-redeemable investment fund and an investment fund for the purposes of applicable securities laws. It has a 12.24 P/E ratio. The Firm has interests across the financial services sector from exchanges to banks to broker dealers and investment managers.
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