What’s in Blackline Safety Corp After Today’s Gap Up?

 What's in Blackline Safety Corp After Today's Gap Up?

The stock of Blackline Safety Corp (CVE:BLN) gapped up by $0.05 today and has $3.12 target or 4.00% above today’s $3.00 share price. The 6 months technical chart setup indicates low risk for the $87.22M company. The gap was reported on Nov, 24 by Barchart.com. If the $3.12 price target is reached, the company will be worth $3.49 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 18,865 shares traded hands or 23.96% up from the average. Blackline Safety Corp (CVE:BLN) has risen 6.00% since October 25, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.

More recent Blackline Safety Corp (CVE:BLN) news were published by: Marketwatch.com which released: “Blackline Safety Announces Stock Option Grant” on November 21, 2016. Also Marketwired.com published the news titled: “DAK Investments Corp. Acquires Shares of Blackline Safety Corp.” on June 24, 2016. Marketwired.com‘s news article titled: “Blackline Safety Ranks No. 228 on the 2016 Profit 500” with publication date: September 15, 2016 was also an interesting one.

Blackline Safety Corp., formerly Blackline GPS Corp., is a Canada wireless location company, which develops, makes, and markets services and products for worker safety monitoring. The company has a market cap of $87.22 million. The Company’s Loner solutions empower organizations in various industries and geographic locations with real-time safety incident awareness. It currently has negative earnings. The Company’s portfolio of solutions address every lone worker scenario, including indoors, outdoors, in between buildings, hazardous sites, while driving and in remote locations.

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