The stock of UGE International Ltd (CVE:UGE) gapped down by $0.005 today and has $0.26 target or 10.00% below today’s $0.29 share price. The 6 months technical chart setup indicates high risk for the $12.34M company. The gap down was reported on Nov, 17 by Barchart.com. If the $0.26 price target is reached, the company will be worth $1.23M less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. About 36,482 shares traded hands or 29.86% up from the average. UGE International Ltd (CVE:UGE) has risen 6.00% since October 18, 2016 and is uptrending. It has outperformed by 1.38% the S&P500.
More notable recent UGE International Ltd (CVE:UGE) news were published by: Marketwired.com which released: “UGE International Ltd. Announces Agreement to Acquire Endura Energy” on November 23, 2015, also Marketwired.com with their article: “UGE International Ltd. Announces Grant of Options” published on June 27, 2016, Marketwired.com published: “UGE International Ltd. Announces Agreement to Spin-Off Wind Operations” on August 03, 2016. More interesting news about UGE International Ltd (CVE:UGE) were released by: Marketwired.com and their article: “UGE International Ltd. (Formerly Way Ventures Inc.) Announces Closing of Its …” published on July 29, 2014 as well as Marketwired.com‘s news article titled: “UGE International and OTEPI Install Largest Portfolio of Commercial Solar …” with publication date: November 04, 2015.
UGE International Ltd. , formerly Way Ventures Inc., is a Canada well-known provider of distributed renewable energy (DRE) solutions to commercial and industrial clients across the globe. The company has a market cap of $12.34 million. The Firm integrates solar components with its wind projects to create hybrid solutions. It currently has negative earnings. The Firm provides end-to-end solutions through its project delivery platform, which focuses on sales and marketing, engineering, procurement, construction and financing.
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