The stock of Bevo Agro Inc (CVE:BVO) gapped up by $0.04 today and has $2.94 target or 151.00% above today’s $1.17 share price. The 7 months technical chart setup indicates low risk for the $29.90M company. The gap was reported on Nov, 3 by Barchart.com. If the $2.94 price target is reached, the company will be worth $45.15 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 34,417 shares traded hands or 96.25% up from the average. Bevo Agro Inc (CVE:BVO) has risen 6.00% since October 4, 2016 and is uptrending. It has outperformed by 4.79% the S&P500.
More recent Bevo Agro Inc (CVE:BVO) news were published by: Reuters.com which released: “BRIEF-Bevo Agro Inc. reports Q4 and fiscal 2016 results” on October 13, 2016. Also Reuters.com published the news titled: “BRIEF-Jiangyin Haida Rubber and Plastic sees 2016 Q1~Q3 net profit to incr…” on October 13, 2016. Theglobeandmail.com‘s news article titled: “Urban Barns grows green revolution” with publication date: January 15, 2010 was also an interesting one.
Bevo Agro Inc. is engaged in the propagation of plants in North America, providing greenhouses, field farms, nurseries, and wholesalers across the continent with plants. The company has a market cap of $29.90 million. The Firm operates through the segment of propagation and production of greenhouse products. It has a 10.6 P/E ratio. It operates approximately 45 acres of propagation greenhouse facilities on approximately 100 acres of land in Milner, British Colombia and approximately 20 acres of land in Pitt Meadows, British Colombia.
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