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.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.