The stock of Nexoptic Technology Corp (CVE:NXO) gapped up by $0.01 today and has $0.60 target or 7.00% above today’s $0.56 share price. The 9 months technical chart setup indicates low risk for the $29.54M company. The gap was reported on Nov, 29 by Barchart.com. If the $0.60 price target is reached, the company will be worth $2.07 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 208,810 shares traded hands or 65.28% up from the average. Nexoptic Technology Corp (CVE:NXO) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More news for Nexoptic Technology Corp (CVE:NXO) were recently published by: Marketwatch.com, which released: “Nexoptic Technology Corp.” on July 04, 2016. Marketwired.com‘s article titled: “Nexoptic and Spectrum Announce Lens Stack Depth to Aperture Ratio of Near 1:1 …” and published on February 29, 2016 is yet another important article.
NexOptic Technology Corp., formerly Elissa Resources Ltd. is a Canada technology company. The company has a market cap of $29.54 million. The Firm invests in the area of optical and lens technologies. It currently has negative earnings. The Company’s divisions include USA and Canada.
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