The stock of CanaDream Corporation (CVE:CDN) gapped up by $0.04 today and has $4.43 target or 177.00% above today’s $1.60 share price. The 9 months technical chart setup indicates low risk for the $33.62M company. The gap was reported on Nov, 16 by Barchart.com. If the $4.43 price target is reached, the company will be worth $59.51 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 41,200 shares traded hands or 199.11% up from the average. CanaDream Corporation (CVE:CDN) has risen 6.00% since October 17, 2016 and is uptrending. It has outperformed by 1.31% the S&P500.
More important recent CanaDream Corporation (CVE:CDN) news were published by: Marketwired.com which released: “CanaDream Corporation Reports Record First Quarter Net and Comprehensive …” on September 26, 2016, also Marketwired.com published article titled: “CanaDream Corporation Reports Record Net and Comprehensive Income of $3.3 Million”, Midasletter.com published: “CanaDream Corporation (TSX.V:CDN) CEO Brian Gronberg on Earnings, Growth” on April 21, 2015. More interesting news about CanaDream Corporation (CVE:CDN) was released by: Theglobeandmail.com and their article: “A financial tuneup keeps trucker’s wheels turning” with publication date: October 21, 2010.
CanaDream Corporation is engaged in recreational vehicle rental and sales industry. The company has a market cap of $33.62 million. The Firm sells its Guest experienced recreational vehicle fleet on a wholesale and retail basis. It has a 7.44 P/E ratio. The Company’s divisions include Guest and Fleet sales.
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