The stock of Till Capital Ltd (CVE:TIL) gapped up by $0.22 today and has $5.51 target or 6.00% above today’s $5.20 share price. The 7 months technical chart setup indicates low risk for the $14.92 million company. The gap was reported on Nov, 22 by Barchart.com. If the $5.51 price target is reached, the company will be worth $895,200 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 2,550 shares traded hands or 585.48% up from the average. Till Capital Ltd (CVE:TIL) has risen 6.00% since October 23, 2016 and is uptrending. It has outperformed by 1.44% the S&P500.
More news for Till Capital Ltd (CVE:TIL) were recently published by: Globenewswire.com, which released: “Till Capital Reports 2nd Quarter 2016 Operational and Financial Results” on August 12, 2016. Seekingalpha.com‘s article titled: “Transocean Inc. – Why Wait Till Wednesday…? Buy The Bonds” and published on October 27, 2016 is yet another important article.
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