The stock of Cymat Technologies Ltd. (CVE:CYM) gapped up by $0.005 today and has $0.68 target or 143.00% above today’s $0.28 share price. The 6 months technical chart setup indicates low risk for the $5.02M company. The gap was reported on Nov, 16 by Barchart.com. If the $0.68 price target is reached, the company will be worth $7.18 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 38,000 shares traded hands or 0.91% up from the average. Cymat Technologies Ltd. (CVE:CYM) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.
More notable recent Cymat Technologies Ltd. (CVE:CYM) news were published by: Stockhouse.com which released: “IIROC Trade Resumption – Cymat Technologies Ltd.” on June 11, 2012, also Businesswire.com with their article: “Global Metal Matrix Composites Market Growth of 5.9% CAGR by 2020 – Analysis …” published on May 31, 2016, Marketwired.com published: “Gideon Capital Corp. Announces Closing of Amalgamation With Bathurst Resources …” on January 06, 2014. More interesting news about Cymat Technologies Ltd. (CVE:CYM) were released by: Prnewswire.com and their article: “The Aluminium Market Analysis, Financials and Forecasting 2011-2016” published on October 17, 2011 as well as Theglobeandmail.com‘s news article titled: “Globe Investor” with publication date: May 20, 2009.
Cymat Technologies Ltd. is a manufacturing company, which holds licenses and related patents to make, use and sell stabilized aluminum foam . The company has a market cap of $5.02 million. SAF is a metallic foam, which is produced using a process in which gas is bubbled into molten-alloyed aluminum containing a dispersion of fine ceramic particles to create a foam that is then cast into lightweight panels and shapes. It currently has negative earnings. The Company’s business lines include Architecture, Blast Mitigation and Energy Absorption, and Automotive.
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