The stock of Purpose Multi-Strategy Market Neutral Fund (TSE:PMM) gapped up by $0.03 today and has $64.49 target or 198.00% above today’s $21.64 share price. The 5 months technical chart setup indicates low risk for the $19.29 million company. The gap was reported on Nov, 9 by Barchart.com. If the $64.49 price target is reached, the company will be worth $38.19 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 14,399 shares traded hands or 1729.61% up from the average. Purpose Multi-Strategy Market Neutral Fund (TSE:PMM) has risen 5.15% since April 8, 2016 and is uptrending. It has outperformed by 0.37% the S&P500.
More notable recent Purpose Multi-Strategy Market Neutral Fund (TSE:PMM) news were published by: Business.Financialpost.com which released: “Finally â€” alternative investments for the rest of us” on December 13, 2014, also Nasdaq.com with their article: “Opportunistic Investing â€“ The Case for Merger Appraisal Rights” published on May 25, 2016, Streetinsider.com published: “Elliott Sends Letter to Citrix Systems (CTXS) Board; Sees Stock Price of $90 …” on June 11, 2015. More interesting news about Purpose Multi-Strategy Market Neutral Fund (TSE:PMM) were released by: Streetinsider.com and their article: “Elliott Management Sends Letter to EMC (EMC) Urging Separation of VMware (VMW)” published on October 08, 2014 as well as Streetinsider.com‘s news article titled: “Form 8-K SMITH & WESSON HOLDING For: Jan 19” with publication date: January 19, 2016.
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