The stock of Enghouse Systems Limited (TSE:ENGH) gapped up by $0.24 today and has $76.37 target or 45.00% above today’s $52.67 share price. The 8 months technical chart setup indicates low risk for the $1.43 billion company. The gap was reported on Nov, 14 by Barchart.com. If the $76.37 price target is reached, the company will be worth $643.50M 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 16,827 shares traded hands. Enghouse Systems Limited (TSE:ENGH) has declined 1.46% since April 8, 2016 and is downtrending. It has underperformed by 6.44% the S&P500.
More notable recent Enghouse Systems Limited (TSE:ENGH) news were published by: Marketwired.com which released: “Enghouse Systems Acquires Presence Technology” on October 28, 2016, also Marketwired.com with their article: “Enghouse Systems Acquires NetBoss Technologies” published on May 27, 2016, Marketwired.com published: “Enghouse Systems Acquires CellVision AS” on March 04, 2016. More interesting news about Enghouse Systems Limited (TSE:ENGH) were released by: Fool.ca and their article: “Is Enghouse Systems Limited the Top Software Stock to Own Today?” published on December 19, 2014 as well as Marketwired.com‘s news article titled: “Enghouse Systems Acquires Jinny Software” with publication date: August 05, 2014.
Enghouse Systems Limited develops enterprise software solutions for a range of vertical markets. The company has a market cap of $1.43 billion. The Firm operates through two divisions: the Interactive Management Group and the Asset Management Group. It has a 34.84 P/E ratio. The Interactive Management Group specializes in customer interaction software and services that are designed to manage customer communications across the enterprise.
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