The stock of Pender Growth Fund (VCC) Inc. (CVE:PTF) gapped down by $0.08 today and has $2.54 target or 11.00% below today’s $2.85 share price. The 5 months technical chart setup indicates high risk for the $11.19 million company. The gap down was reported on Nov, 4 by Barchart.com. If the $2.54 price target is reached, the company will be worth $1.23M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 8,220 shares traded hands or 44.97% up from the average. Pender Growth Fund (VCC) Inc. (CVE:PTF) has risen 6.00% since October 5, 2016 and is uptrending. It has outperformed by 4.91% the S&P500.
Another recent and important Pender Growth Fund (VCC) Inc. (CVE:PTF) news was published by Stockhouse.com which published an article titled: “Pender Growth Fund Sells Investment in Monexa and Will Honour a Significant …” on August 10, 2015.
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