The stock of GreenPower Motor Company Inc (CVE:GPV) gapped up by $0.02 today and has $0.82 target or 9.00% above today’s $0.75 share price. The 8 months technical chart setup indicates low risk for the $63.25 million company. The gap was reported on Nov, 23 by Barchart.com. If the $0.82 price target is reached, the company will be worth $5.69M 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 39,500 shares traded hands or 12.77% up from the average. GreenPower Motor Company Inc (CVE:GPV) has risen 6.00% since October 24, 2016 and is uptrending. It has outperformed by 0.67% the S&P500.
More news for GreenPower Motor Company Inc (CVE:GPV) were recently published by: Seekingalpha.com, which released: “GreenPower Motor Co. – A Highly Unusual Transportation Services Technology Play” on October 15, 2015. Seekingalpha.com‘s article titled: “GreenPower: Getting Definitive With Cash Flow Breakeven Expectations” and published on January 13, 2016 is yet another important article.
GreenPower Motor Company Inc., formerly Oakmont Minerals Corp., is engaged in the business of manufacturing and distributing green-tech charter, school and city buses. The company has a market cap of $63.25 million. The Firm develops electric powered vehicles for commercial markets. It currently has negative earnings. The Firm offers a range of electric powered buses deploying electric drive and battery technologies with a lightweight chassis and low floor or high floor body.
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