Some Traders Are Very Bullish on Mogo Finance Technology Inc After Today’s Gap Up

 Some Traders Are Very Bullish on Mogo Finance Technology Inc After Today's Gap Up

The stock of Mogo Finance Technology Inc (TSE:GO) gapped up by $0.05 today and has $6.42 target or 193.00% above today’s $2.19 share price. The 8 months technical chart setup indicates low risk for the $42.75 million company. The gap was reported on Nov, 11 by Barchart.com. If the $6.42 price target is reached, the company will be worth $82.51 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 36,040 shares traded hands. Mogo Finance Technology Inc (TSE:GO) has declined 30.51% since April 14, 2016 and is downtrending. It has underperformed by 36.66% the S&P500.

Mogo Finance Technology Inc (TSE:GO) Ratings Coverage

Out of 2 analysts covering Guide Exploration (TSE:GO), 1 rate it a “Buy”, 1 “Sell”, while 0 “Hold”. This means 50% are positive. Guide Exploration has been the topic of 3 analyst reports since July 29, 2015 according to StockzIntelligence Inc. On Wednesday, July 29 the stock rating was initiated by Canaccord Genuity with “Buy”. Cormark Securities initiated Mogo Finance Technology Inc (TSE:GO) on Wednesday, July 29 with “Buy” rating. The firm has “Sell” rating by Canaccord Genuity given on Friday, August 12.

More important recent Mogo Finance Technology Inc (TSE:GO) news were published by: Cnbc.com which released: “Is Mogo the Uber of finance?” on August 20, 2015, also Wsj.com published article titled: “Canada’s Mogo Finance Considers C$50 Million IPO as Early as This Month”, Wsj.com published: “Canada’s Mogo Finance Raises C$50 Million from IPO” on June 17, 2015. More interesting news about Mogo Finance Technology Inc (TSE:GO) was released by: Theglobeandmail.com and their article: “Analysts say ‘buy’ as shares sink in Canada’s first public online lender” with publication date: August 09, 2015.

Mogo Finance Technology Inc. is a Canada financial technology company, which is focused on building a digital financial brand, Mogo. The company has a market cap of $42.75 million. The Company’s technology platform provides clients with access to responsible credit solutions. It currently has negative earnings. The Firm leverages big data algorithms and the technologies to manage the customer experience.

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