The stock of Sylogist Ltd. (CVE:SYZ) gapped up by $0.17 today and has $14.42 target or 36.00% above today’s $10.60 share price. The 6 months technical chart setup indicates low risk for the $246.17M company. The gap was reported on Nov, 10 by Barchart.com. If the $14.42 price target is reached, the company will be worth $88.62M 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 3,900 shares traded hands. Sylogist Ltd. (CVE:SYZ) has risen 6.00% since October 11, 2016 and is uptrending. It has outperformed by 0.35% the S&P500.
More notable recent Sylogist Ltd. (CVE:SYZ) news were published by: Marketwired.com which released: “Sylogist Ltd. Declares Quarterly Dividend” on May 10, 2016, also Marketwired.com with their article: “Sylogist Ltd. Declares Increased Quarterly Dividend” published on November 18, 2015, Seekingalpha.com published: “Sylogist: Curious Buyback Behavior” on September 06, 2016. More interesting news about Sylogist Ltd. (CVE:SYZ) were released by: Marketwired.com and their article: “Sylogist Signs Global Agreement for Public Sector with Microsoft” published on August 02, 2016 as well as Marketwired.com‘s news article titled: “Sylogist Announces Executive Appointment” with publication date: August 12, 2016.
Sylogist Ltd. is a technology innovation and licensing company, which, through strategic acquisitions, investments and activities management, provides intellectual property solutions to a range of public and private sector customers. The company has a market cap of $246.17 million. The Firm operates through two divisions: the Public Sector division and Private Sector division. It has a 46.54 P/E ratio. The Public Sector division, operates as Bellamy Software and Serenic, develops software and provides implementation services to the public sector market consisting of local governments, school districts, regional utility authorities, non-profit and non-governmental organizations (NGO).
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