The stock of BTL Group Ltd (CVE:BTL) gapped up by $0.02 today and has $1.37 target or 7.00% above today’s $1.28 share price. The 7 months technical chart setup indicates low risk for the $22.26M company. The gap was reported on Nov, 28 by Barchart.com. If the $1.37 price target is reached, the company will be worth $1.56M 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 24,000 shares traded hands. BTL Group Ltd (CVE:BTL) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More notable recent BTL Group Ltd (CVE:BTL) news were published by: Marketwatch.com which released: “BTL Group Ltd.” on November 24, 2015, also Marketwired.com with their article: “BTL Group Announces Project With Visa Europe Collab” published on September 01, 2016, Marketwired.com published: “BTL Group Ltd. Announces Appointment of New Officers and Lead Director and …” on March 11, 2016. More interesting news about BTL Group Ltd (CVE:BTL) were released by: Marketwired.com and their article: “BTL Group Announces Warrant Exercise Incentive Program and Additions to Management” published on October 20, 2016 as well as Marketwired.com‘s news article titled: “BTL Group Ltd. Signs Contract With Netcoins to Launch In-Store Remittances” with publication date: March 29, 2016.
BTL Group Ltd. , formerly Northern Aspect Resources Ltd., is a Canada technology company. The company has a market cap of $22.26 million. The Company’s business focuses on developing blockchain technologies to disrupt and transform existing industries. It currently has negative earnings. The technology is developed in-house and through BTL’s incubator and accelerator programs, based in Vancouver, British Columbia.
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