The stock of Sangoma Technologies Corporation (CVE:STC) gapped up by $0.005 today and has $0.99 target or 183.00% above today’s $0.35 share price. The 5 months technical chart setup indicates low risk for the $11.27 million company. The gap was reported on Nov, 18 by Barchart.com. If the $0.99 price target is reached, the company will be worth $20.62 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 155,200 shares traded hands or 109.53% up from the average. Sangoma Technologies Corporation (CVE:STC) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.
More notable recent Sangoma Technologies Corporation (CVE:STC) news were published by: Marketwired.com which released: “Nicholas Galea Announces Increased Holdings in Sangoma Technologies Corporation” on November 14, 2016, also Marketwired.com with their article: “Nicholas Galea Announces Holdings in Sangoma Technologies Corporation” published on August 19, 2016, Marketwired.com published: “Sangoma Technologies Introduces PBXact UCC, a New Cloud-Based Business …” on August 16, 2016. More interesting news about Sangoma Technologies Corporation (CVE:STC) were released by: Marketwired.com and their article: “Sangoma Completes the Acquisition of Two Businesses” published on January 02, 2015 as well as Marketwired.com‘s news article titled: “Sangoma Announces Grant of Stock Options” with publication date: June 22, 2016.
Sangoma Technologies Corporation is a well-known provider of hardware and software components that enable Internet protocol communications systems for both telecom and datacom applications. The company has a market cap of $11.27 million. The Firm is engaged in the development, manufacturing, distribution and support of voice and data connectivity components for software communication applications. It has a 24.7 P/E ratio. The Company’s product line includes data and telecom boards for media and signal processing, as well as gateway appliances and software.
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