The stock of Photon Control Inc (CVE:PHO) gapped up by $0.01 today and has $1.60 target or 110.00% above today’s $0.76 share price. The 9 months technical chart setup indicates low risk for the $81.81M company. The gap was reported on Nov, 8 by Barchart.com. If the $1.60 price target is reached, the company will be worth $89.99 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 531,321 shares traded hands or 10.00% up from the average. Photon Control Inc (CVE:PHO) has risen 6.00% since October 9, 2016 and is uptrending. It has outperformed by 4.04% the S&P500.
More recent Photon Control Inc (CVE:PHO) news were published by: Seekingalpha.com which released: “Photon Control: Making The Best Of A Bad Situation” on June 28, 2016. Also Marketwired.com published the news titled: “Fondren and JEC Capital Terminate Agreement Regarding Common Shares of Photon …” on November 04, 2016. Reuters.com‘s news article titled: “BRIEF-Photon Control takes legal action against Photon Control R&D and oth…” with publication date: August 23, 2016 was also an interesting one.
Photon Control Inc. designs, manufactures and distributes a range of optical sensors and instruments to measure temperature, pressure, position and flow. The company has a market cap of $81.81 million. The Firm provides engineering services for customized optical measurement systems. It has a 12.32 P/E ratio. The Company’s products include Fiber Optic Temperature Sensors, Spectroscopy and Focus2.0 Optical Gas Flow Meter.
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.