The stock of International Road Dynamics Inc. (TSE:IRD) gapped up by $0.03 today and has $2.70 target or 6.00% above today’s $2.55 share price. The 5 months technical chart setup indicates low risk for the $38.74M company. The gap was reported on Nov, 24 by Barchart.com. If the $2.70 price target is reached, the company will be worth $2.32 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 27,700 shares traded hands. International Road Dynamics Inc. (TSE:IRD) has risen 77.54% since April 20, 2016 and is uptrending. It has outperformed by 72.13% the S&P500.
More news for International Road Dynamics Inc. (TSE:IRD) were recently published by: Theglobeandmail.com, which released: “Why I like this microcap play on automated highway systems” on November 30, 2015. Cbc.ca‘s article titled: “Saskatoon company tests new tire pressure technology” and published on January 23, 2015 is yet another important article.
International Road Dynamics Inc. is a Canada firm engaged in providing integrated systems and solutions for the Intelligent Transportation Systems (ITS) Industry. The company has a market cap of $38.74 million. The Company’s segment is engaged in design, hardware and software development, manufacturing and integration of products and systems for traffic flows. It has a 12.81 P/E ratio. The Company’s products include counters and classifiers, axle sensors and grout, IRD DYNAX Treadles, portable axle weighers, access control and security, software, traffic products, weigh-in-motion (WIM) controllers and WIM systems.
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