The stock of biOasis Technologies Inc (CVE:BTI) gapped up by $0.02 today and has $1.37 target or 8.00% above today’s $1.27 share price. The 5 months technical chart setup indicates low risk for the $55.75M company. The gap was reported on Nov, 29 by Barchart.com. If the $1.37 price target is reached, the company will be worth $4.46 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 12,500 shares traded hands. biOasis Technologies Inc (CVE:BTI) has risen 6.00% since October 30, 2016 and is uptrending. It has outperformed by 0.74% the S&P500.
More recent biOasis Technologies Inc (CVE:BTI) news were published by: Business.Financialpost.com which released: “Podcast: biOasis Technologies Inc CEO Rob Hutchison on how his company is …” on March 29, 2016. Also Reuters.com published the news titled: “BRIEF-biOasis enters into a license agreement with Vaccinex Inc.” on September 21, 2016. Marketwired.com‘s news article titled: “biOasis Enters Into a License Agreement With Vaccinex Inc.” with publication date: September 21, 2016 was also an interesting one.
biOasis Technologies Inc. is a development-stage biopharmaceutical company, which is focused on research, development and commercialization of technologies and products that are intended for the treatment of central nervous system diseases and diseases of the brain. The company has a market cap of $55.75 million. The Firm researches and develops products for diagnosis and treatment of neurological diseases and disorders. It currently has negative earnings. It is engaged in the development of its vectors Transcend and Transcendpep for the transport of therapeutic agents across the blood brain barrier (BBB).
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