The stock of Imperial Equities Inc (CVE:IEI) gapped up by $0.03 today and has $9.41 target or 111.00% above today’s $4.46 share price. The 9 months technical chart setup indicates low risk for the $40.23 million company. The gap was reported on Nov, 17 by Barchart.com. If the $9.41 price target is reached, the company will be worth $44.66M 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 6,800 shares traded hands or 7.80% up from the average. Imperial Equities Inc (CVE:IEI) has risen 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.
Imperial Equities Inc. is a Canada firm engaged in the development and redevelopment of commercial and industrial properties primarily in Edmonton and throughout Alberta through its subsidiary, Imperial Equities Properties Ltd. The company has a market cap of $40.23 million. The Company’s divisions include Real Estate and Pharmaceuticals. It has a 12.22 P/E ratio. The Real Estate properties include Powell Building, Central Distribution Building, Independent Supply Building, Gescan Building, The Capital Business Park, Oliver Crossing, Norwesco and Ashworth Building.
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