Could Pender Growth Fund (VCC) Inc. Lose Strenght? The Stock Just Gapped Up

 Could Pender Growth Fund (VCC) Inc. Lose Strenght? The Stock Just Gapped Up

The stock of Pender Growth Fund (VCC) Inc. (CVE:PTF) gapped up by $0.15 today and has $5.38 target or 63.00% above today’s $3.30 share price. The 5 months technical chart setup indicates low risk for the $11.19 million company. The gap was reported on Nov, 18 by Barchart.com. If the $5.38 price target is reached, the company will be worth $7.05M 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 14,418 shares traded hands or 480500.00% up from the average. Pender Growth Fund (VCC) Inc. (CVE:PTF) has risen 6.00% since October 19, 2016 and is uptrending. It has outperformed by 1.57% the S&P500.

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