Manitex Capital Inc. Gaps Up Today, Is Now One of The Best Performers

 Manitex Capital Inc. Gaps Up Today, Is Now One of The Best Performers

The stock of Manitex Capital Inc. (CVE:MNX) gapped up by $0.015 today and has $0.56 target or 60.00% above today’s $0.35 share price. The 5 months technical chart setup indicates low risk for the $3.68 million company. The gap was reported on Nov, 4 by Barchart.com. If the $0.56 price target is reached, the company will be worth $2.21M 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 36,000 shares traded hands or 1957.14% up from the average. Manitex Capital Inc. (CVE:MNX) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.

More recent Manitex Capital Inc. (CVE:MNX) news were published by: Marketwatch.com which released: “Manitex Capital Inc. acquires convertible debentures of Cold Water Fisheries …” on September 22, 2016. Also Marketwatch.com published the news titled: “Manitex Capital Inc. announces that Valeo Pharma Inc. sold its dermatology …” on August 25, 2014. Marketwired.com‘s news article titled: “Manitex International, Inc. Will Participate in RBC Capital Markets’ Global …” with publication date: August 25, 2016 was also an interesting one.

Manitex Capital Inc. is a Canada-based firm that specializes in acquiring interests in companies and participates in increasing shareholder value in these businesses. The company has a market cap of $3.68 million. The Firm operates through three divisions: diversified investments , biotechnology (biotech) and a pharmaceutical business (pharma). It currently has negative earnings. The investment segment holds interests in companies in the life science industry and also invests in marketable securities.

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