The stock of CVR MEDICAL CORP (CVE:CVM) gapped up by $0.01 today and has $0.40 target or 8.00% above today’s $0.37 share price. The 8 months technical chart setup indicates low risk for the $12.08 million company. The gap was reported on Nov, 28 by Barchart.com. If the $0.40 price target is reached, the company will be worth $966,400 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 78,300 shares traded hands or 122.80% up from the average. CVR MEDICAL CORP (CVE:CVM) has risen 6.00% since October 29, 2016 and is uptrending. It has underperformed by 0.01% the S&P500.
More notable recent CVR MEDICAL CORP (CVE:CVM) news were published by: Investorideas.com which released: “CVR Medical Corp. (TSXV: $CVM) (FSE: $B3BN) (OTCQB: $CRRVF) Announces Listings …” on November 22, 2016, also Marketwatch.com with their article: “CVR Medical Corp.” published on September 30, 2016, Marketwatch.com published: “CVR Medical Retains Brisco Capital Investor Relations” on September 30, 2016. More interesting news about CVR MEDICAL CORP (CVE:CVM) were released by: Stockhouse.com and their article: “IIROC Trade Resumption – CVR Medical Corp.” published on June 11, 2012 as well as Stockhouse.com‘s news article titled: “CVR Medical Appoints Dr. Paul S. Blunden to Medical Board of Directors” with publication date: October 20, 2016.
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