The stock of Opsens Inc. (CVE:OPS) gapped up by $0.01 today and has $1.70 target or 7.00% above today’s $1.59 share price. The 8 months technical chart setup indicates low risk for the $117.60 million company. The gap was reported on Nov, 25 by Barchart.com. If the $1.70 price target is reached, the company will be worth $8.23M 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 66,900 shares traded hands. Opsens Inc. (CVE:OPS) has risen 6.00% since October 26, 2016 and is uptrending. It has outperformed by 0.59% the S&P500.
Another recent and important Opsens Inc. (CVE:OPS) news was published by Reuters.com which published an article titled: “BRIEF-Opsens Inc upsizes & provides additional details about proposed equi…” on November 23, 2016.
Opsens Inc. provides fiber optic sensing technology. The company has a market cap of $117.60 million. The Firm operates through two divisions: Medical and Industrial. It currently has negative earnings. In Medical segment, the Company focuses on the measure of Fractional Flow Reserve in interventional cardiology.
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