The stock of IWG Technologies Inc (CVE:IWG) gapped up by $0.09 today and has $0.44 target or 6.00% above today’s $0.42 share price. The 6 months technical chart setup indicates low risk for the $15.71M company. The gap was reported on Nov, 28 by Barchart.com. If the $0.44 price target is reached, the company will be worth $942,600 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 668,217 shares traded hands or 1676.65% up from the average. IWG Technologies Inc (CVE:IWG) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More news for IWG Technologies Inc (CVE:IWG) were recently published by: Reuters.com, which released: “BRIEF-IWG Technologies announces execution of arrangement agreement” on November 28, 2016. Theglobeandmail.com‘s article titled: “Entrepreneur prefers to invest in small-cap stocks and REITs” and published on September 03, 2016 is yet another important article.
IWG Technologies Inc. is a Canada-based firm engaged in aerospace and high-tech businesses. The company has a market cap of $15.71 million. The Company, through its subsidiary, International Water-Guard Industries Inc. , is engaged in the development, design, manufacture, sale and service of potable water treatment equipment, on-demand water heaters and water systems for international aviation customers. It has a 16.67 P/E ratio. IWG offers an aircraft water system solution in the form of its circulating potable water system.
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